Jan 30, 2013. /Lesprom Network/. Buckeye Technologies Inc. announced 2Q net sales of $204.3 million and adjusted net income of $23.6 million. Adjusted EPS of $0.60 compared to $0.69 in 2Q-FY12 and $0.62 in 1Q-FY13. Net insurance recovery in 2Q-FY13 was $0.04 per share less than expected, as the company said in a press release received by Lesprom Network. Net sales for the quarter were down $17.1 million or 8% compared to the year ago quarter. The sale of the Merfin Systems converting business in the 3Q of fiscal 2012 accounted for $4.3 million of this reduction in net sales. Adjusted operating income of $36.4 million was down $6.7 million compared to the year ago quarter, largely due to unfavorable product mix, in spite of a $6.8 million net insurance benefit related to the June steam drum failure outage at Foley. Adjusted net income of $23.6 million, or $0.60 per share, excludes after-tax restructuring and asset impairment charges of $10.7 million or $0.27 per share relating to the closure of Delta airlaid nonwovens plant, which ceased production in November. Adjusted net income was down $4.3 million or $0.09 per share compared to the prior year period’s $27.9 million or $0.69 per share, which excluded after-tax costs of $3.6 million or $0.09 per share relating to the cellulosic biofuel credit, and after-tax impairment costs of $29.7 million or $0.74 per share relating to the sale of Merfin Systems and the closure of our cotton specialty fibers plant in Americana, Brazil. Buckeye, a leading manufacturer and marketer of specialty fibers and nonwoven materials, is headquartered in Memphis, Tennessee, USA. The Company currently operates facilities in the United States, Germany, and Canada.