May 05, 2014. /Lesprom Network/. Clearwater Paper Corporation reported net sales of $484.9 million for the 1Q 2014, up 5% compared to net sales of $460.8 million for the 1Q 2013. Net earnings determined in accordance with generally accepted accounting principles, or GAAP, for the 1Q 2014 were $6.2 million, compared to a net loss of ($0.9) million for the 1Q 2013, as the company said in the press release received by Lesprom Network.

The 2014 first quarter GAAP net earnings include $1.8 million of after-tax expense associated with the mark-to-market impact of directors' equity-based compensation and $5.9 million of after-tax expense associated with the closure of the company's Thomaston, Georgia, and Long Island, New York, converting and distribution facilities. Excluding those items, 1Q 2014 adjusted net earnings were $13.9 million, compared to 1Q 2013 adjusted net earnings of $2.4 million.

Earnings before interest, taxes, depreciation and amortization, or EBITDA, was $42.7 million for the 1Q 2014. Adjusted EBITDA for the quarter was $54.7 million, up 43.0% compared to 1Q 2013 Adjusted EBITDA of $38.3 million. The increase in EBITDA and Adjusted EBITDA was due primarily to increased paperboard volumes and pricing and approximately $7 million of contribution from the company's through-air-dried, or TAD, expansion.

"The Pulp and Paperboard division delivered another solid quarter for Clearwater Paper," said president and CEO Linda Massman. "With the Consumer Products division, we saw a highly-competitive tissue market and cold-weather related costs negatively impact the business. Moving forward, we are focused on continuing to build strong customer relationships and take important steps to bring efficiencies to every part of our operation."

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.