Feb 01, 2008. /Lesprom Network/. MeadWestvaco Corp. today reported 4Q 2007 net income of $148 million, or $0.82 per share. Included in the results are after-tax restructuring charges of $26 million, or $0.14 per share, primarily related to asset write-downs and employee separation costs, and after-tax one-time costs of $3 million, or $0.02 per share, related to the company’s cost initiative. The results also include an after-tax gain of $102 million, or $0.56 per share, related to the sale of approximately 228,000 acres of owned forestlands and approximately 95,000 acres under long-term timber contracts. Sales in the 4Q 2007 increased 4% to $1.85 billion compared to $1.78 billion in the 4Q 2006. In 4Q 2007, profit from MeadWestvaco’s business segments declined modestly to $168 million from $174 million in 2006. Profit declines in certain consumer packaging lines of business were partially offset by strong profit growth in the mill-based business. For the full year, profit from MeadWestvaco’s business segments increased 7% to $584 million in 2007 from $546 million in 2006. Strong profit growth in the mill-based business and consumer and office products business drove the overall increase in business segment profit. During the year, the company made market share gains and realized higher prices in key paperboard grades, generated strong growth in healthcare packaging solutions. MeadWestvaco is a global leader in packaging and packaging solutions.