Jul 24, 2014. /Lesprom Network/. Clearwater Paper Corporation reported net sales of $498.8 million for the 2Q 2014, up 5.9% compared to net sales of $471 million for the 2Q 2013. Net earnings determined in accordance with generally accepted accounting principles, or GAAP, for the 2Q 2014 were $12.5 million, compared to $11.7 million, for the 2Q 2013, as the company said in the press release received by Lesprom Network. 

The 2Q 2014 GAAP net earnings include $1.4 million of after-tax expense associated with the closure of the company’s Thomaston, Georgia, and Long Island, New York, converting and distribution facilities and $1.4 million of expense from the net impact of changes related to amendments to state tax returns and state tax rate changes. Excluding those items, 2Q 2014 adjusted net earnings were $15.3 million, or $0.74 per diluted share, compared to 2Q 2013 adjusted net earnings of $11.6 million, or $0.51 per diluted share.

Earnings before interest, taxes, depreciation and amortization, or EBITDA, was $55.1 million for the 2Q 2014. Adjusted EBITDA for the quarter was $57.3 million, up 8.4% compared to 2Q 2013 Adjusted EBITDA of $52.8 million. The increase in EBITDA and Adjusted EBITDA was due primarily to strong paperboard markets and pricing as well as increased contribution from the company’s through-air-dried, or TAD, expansion.

“The Pulp and Paperboard and Consumer Products divisions both delivered solid results in the second quarter,” said Linda K. Massman, president and CEO. “In Consumer Products, we hit record TAD product sales with strong customer momentum going forward. Continued demand for our paperboard products also remains strong giving us a positive outlook for the remainder of the year.”

Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, machine-glazed tissue, bleached paperboard and pulp at 13 manufacturing locations in the U.S. and Canada.