Feb 22, 2007. /Lesprom Network/. Graphic Packaging Corporation reported on February 21a net loss for fourth quarter 2006 of $39.0 million or $0.19 per diluted share, based upon 201.3 million shares. This compares to a fourth quarter 2005 net loss of $42.5 million, or $0.21 per diluted share, based upon 200.6 million diluted shares. For the full year 2006, the company reported a net loss of $100.5 million or $0.50 per diluted share, based upon 201.1 million shares. Full year results compare to a 2005 net loss of $91.1 million, or $0.46 per diluted share, based upon 200.0 million shares. "Fourth quarter income from operations exceeded the prior year quarter, despite incurring $17 million of expenses associated with the upgrade of infrastructure at our West Monroe, Louisiana mill," said David W. Scheible, president and chief executive officer. "We reduced operating costs by $8 million in the quarter and incremental pricing contributed an additional $12 million to our results. These favorable business developments, together with moderation in inflation, led to positive momentum in the business." "During the quarter, we continued to renegotiate major customer contracts to include price escalators. In 2007, we intend to negotiate comparable pricing mechanisms into the few contracts that remain open. In addition to obtaining increased pricing on the contractual side of the business, prices increased for both our open market roll stock and containerboard in both domestic and international markets." "Late in the year, we accelerated the preventative maintenance initiative at our West Monroe, Louisiana mill. We incurred approximately $17 million of expenses in the fourth quarter primarily related to a planned cold outage and the overhaul of the clarifier as part of a continued upgrade to the mill's infrastructure. The clarifier was brought back on line in the latter part of January. This was a significant undertaking that only occurs every 30 years." Net sales increased 2.9% to $589.4 million during fourth quarter 2006, compared to fourth quarter 2005 net sales of $572.6 million. Full year 2006 net sales were $2.41 billion, or 1.2% higher than 2005 net sales of $2.38 billion. When comparing against the prior year quarter, net sales in the fourth quarter of 2006 were positively impacted by: - Approximately $12 million due to incremental pricing of cartons, roll stock and containerboard; and - Approximately $5 million due to translation related to favorable foreign currency exchange rates. EBITDA for fourth quarter 2006 was $59.9 million versus $57.0 million for fourth quarter 2005. Full year 2006 EBITDA was $286.3 million versus $292.2 million for 2005. Excluding the third quarter 2006 non-cash Brazil impairment charge of $3.9 million, Adjusted EBITDA for the full year 2006 was $290.2 million. Graphic Packaging Corporation, headquartered in Marietta, Georgia, is a leading provider of paperboard packaging solutions for a wide variety of products to food, beverage and other consumer products companies.