Schweitzer-Mauduit reported 1Q net income of $13.3 million
May 08, 2009. Premium specialty paper maker Schweitzer-Mauduit International Inc. posted a 1Q profit, helped by lower product costs and increased selling prices. The company reported net income of $13.3 million, or 87 cents a share, compared to a loss of $1.2 million, or 8 cents a share, a year ago.
May 08, 2009. /Lesprom Network/. Premium specialty paper maker Schweitzer-Mauduit International Inc. posted a 1Q profit, helped by lower product costs and increased selling prices, as Reuters agency informed Lesprom Network.
The company reported net income of $13.3 million, or 87 cents a share, compared to a loss of $1.2 million, or 8 cents a share, a year ago. Net sales fell 3% to $184.1 million, partly due to unfavorable foreign currency exchange rates.
Cost of products sold dropped 16% to $142.5 million during the quarter. The company expects capital spending for 2009 to be at the lower end of a range of $20 million and $30 million. It sees 2009 earnings of $1.80 to $2.00 per share, excluding certain items.