Neenah Paper reported Q3 net income of $5.0 million
Nov 06, 2008. /Lesprom.com/. Neenah Paper, Inc. announced 3Q net income from continuing operations of $5.0 million or $0.34 per share, compared to $13.3 million or $0.87 per share in the 3Q last year.
Nov 06, 2008. /Lesprom.com/. Neenah Paper, Inc. announced 3Q net income from continuing operations of $5.0 million or $0.34 per share, compared to $13.3 million or $0.87 per share in the 3Q last year.
Net income for the period fell to $6.5 million or $0.44 per share from $15.4 million or $1.01 per share last year.
Consolidated net sales for the period were $185.6 million, down from $195.2 million in the 3Q last year.
Operating income was $12.3 million in the 3Q 2008, an increase of 19% from $10.3 million in the prior year, as higher Technical Products profits and a $3.6 million gain on the sale of a converting facility in Wisconsin offset lower Fine Paper operating profit. Operating income in both periods included costs associated with scheduled annual maintenance downs at the company's Fine Paper and Technical Products plants.