Feb 05, 2008. /Lesprom Network/. Wausau Paper reported a net loss for the fourth quarter of $27.6 million, or $0.55 per share, compared with net earnings of $7.3 million, or $0.14 per share, in the year-earlier period. Net sales increased 1% to a record $304.5 million, while shipments decreased 5% to 218 thousand tons. Fourth-quarter results include an after-tax charge of $28.8 million, or $0.58 per share, relating to the December 2007 closure of Printing & Writing’s paper mill in Groveton, NH; timberland sales gains of $2.0 million, or $0.04 per share; stock incentive credits of $0.6 million, or $0.01 per share; and one-time state tax benefits of $1.2 million, or $0.02 per share. Prior-year fourth-quarter results included after-tax timberland sales gains of $4.9 million, or $0.10 per share, and stock incentive charges of $0.5 million, or $0.01 per share. For the full-year 2007, Wausau Paper reported a net loss of $1.8 million, or $0.04 per share, compared with net earnings of $17.6 million, or $0.34 per share, in 2006. In addition to after-tax Groveton mill closure charges of $28.8 million, or $0.57 per share, 2007 results included after-tax timberland sales gains of $6.0 million, or $0.12 per share; one-time state tax benefits of $13.3 million, or $0.26 per share, primarily related to the January 1, 2007, restructuring of the company’s subsidiaries; and stock incentive credits of $1.2 million, or $0.02 per share. Year-earlier results included after-tax timberland sales gains of $10.8 million, or $0.21 per share, and stock incentive charges of $1.8 million, or $0.04 per share. Net sales increased 4% in 2007 to $1.24 billion while shipments decreased fractionally to 917 thousand tons. Wausau Paper is one of the industry's leading producers of fine printing and writing, specialty products and towel and tissue papers.