RockTenn posts record fiscal 3Q earnings
Jul 29, 2009. The Company’s adjusted earnings were $1.44 per diluted share, excluding specific items related to the alternative fuel tax credit, debt extinguishment costs and other restructuring charges. Adjusted earnings per diluted share increased 106% over the prior year quarter adjusted earnings of $0.70 per diluted share.
Jul 29, 2009. /Lesprom Network/. RockTenn reported earnings for the quarter ended June 30, 2009 of $2.24 per diluted share, PaperAge reported. The Company’s adjusted earnings were $1.44 per diluted share, excluding specific items related to the alternative fuel tax credit, debt extinguishment costs and other restructuring charges. Adjusted earnings per diluted share increased 106% over the prior year quarter adjusted earnings of $0.70 per diluted share.
RockTenn Chairman and Chief Executive Officer James A. Rubright stated, “Our adjusted earnings of $1.44 for the quarter and $3.42 for the nine months ended June 2009, reflect the very low cost positions we have achieved in our businesses and the economic resiliency of our food and consumer packaging based businesses. Total tons shipped were up 5.7% over the second quarter, reflecting the continued outperformance of our consumer and corrugated packaging operations. Although recycled fiber costs have continued to increase from the January lows, our other costs have remained low and paperboard and containerboard pricing have stabilized in recent weeks. Accordingly, we expect to continue to generate strong cash flows based on our proven operating model.”