Oct 27, 2011. /Lesprom Network/. Clearwater Paper reported net earnings of $8.6 million for the 3Q 2011, compared to net earnings of $15.0 million for the 3Q 2010. The 3Q 2011 earnings before interest, taxes, depreciation and amortization, or EBITDA, was $46.2 million, compared to $40.3 million in the 3Q 2010, as the company said in a press release received by Lesprom Network. Clearwater Paper acquired Cellu Tissue on December 27, 2010. The 3Q 2011 includes Cellu Tissue's results, which is the primary reason for many of the variances between the 2011 and 2010 periods. “We are pleased to surpass the $500 million milestone in quarterly net sales and are continuing our focus on managing expenses in this challenging cost environment,” said Gordon Jones, chairman, president and CEO. “Both the integration of Cellu Tissue and the construction of our Shelby facility are on track, with meaningful contributions expected to begin in 2012.” “We believe our investment in these growth areas of the business are putting us in a strong strategic position for the future and early customer reception is very positive,” added Jones. As part of its previously announced share repurchase program, the company repurchased 291,600 shares of outstanding common stock at an average price of $34.30 per share during the 3Q 2011. The company also effected a two-for-one stock split on August 26, 2011. All prior period share amounts have been adjusted to reflect the stock split. Net sales of $215.9 million in the Pulp and Paperboard segment for the 3Q 2011 increased 3.3%, compared to 3Q 2010 net sales of $209 million. Operating income for the quarter rose 24.6% to $26.3 million, compared to $21.1 million for the 3Q 2010. The increase was primarily due to higher net selling prices for paperboard and lower wood fiber costs, partially offset by higher chemical costs. Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, machine glazed tissue, bleached paperboard, pulp and wood products at 15 manufacturing locations in the U.S. and Canada. The company is a premier supplier of private label tissue to major retailers and wholesale distributors.