USA: Badger Paper Sees A 1Q Loss Due To Rising Expenses
USA: Badger Paper Sees A 1Q Loss Due To Rising Expenses.
(BPMI) will post a loss in the first quarter of 2003 because of rising pulp and natural gas prices.
A company spokesman declined to say how much of a loss the company would report. In the year-ago first quarter, the company earned $1.17 million, or 57 cents a share.
In a press release Wednesday, the company said that over the last two years, it had been moving into making specialty products and had been sheltered from the volatile price swings in the nationwide paper market.
The company's energy costs almost doubled this winter.
The company still has a goal to grow revenues 11% in 2003. The company posted revenue of $73.77 million last year, translating to about $81.9 million in 2003 revenue.