Temple-Inland reported 1Q net income of $35 million
Apr 23, 2009. Temple-Inland Inc. posted net income of $35 million or $0.33 per share for the 1Q, compared to a net loss of $13 million or $0.12 per share in the prior-year period. For the 4Q 2008, the company had posted a net loss of $6 million or $0.06 per share.
Apr 23, 2009. /Lesprom Network/. Temple-Inland Inc., a manufacturer of corrugated packaging and building products, reported a profit for the 1Q compared to a loss a year ago, helped by "record" operating results from its corrugated packaging segment, as RTT News informed Lesprom Network.
Temple-Inland posted net income of $35 million or $0.33 per share for the 1Q, compared to a net loss of $13 million or $0.12 per share in the prior-year period. For the 4Q 2008, the company had posted a net loss of $6 million or $0.06 per share.
Excluding special items, net income for the 1Q was $32 million or $0.30 per share, compared to a net loss of $5 million or $0.05 per share a year ago. Results for the recent quarter included special items of $0.03 per share, primarily consisting of an after-tax gain of $6 million or $0.06 per diluted share related to the purchase and retirement of long-term debt and an after-tax charge of $2 million or $0.02 per diluted share resulting from facility closures and headcount reductions.
Quarterly revenues slipped to $941 million from $944 million in the same period last year.