RockTenn reported 1Q net income of $32.8 million
Apr 30, 2010. RockTenn recorded net income of $32.8 million and earnings of 83 cents a share, compared with net income of $37.4 million and earnings of 97 cents a share in the 2Q 2009.
Apr 30, 2010. /Lesprom Network/. RockTenn Co.’s profit fell by nearly $5 million in the 2Q of fiscal 2010. RockTenn recorded net income of $32.8 million and earnings of 83 cents a share, compared with net income of $37.4 million and earnings of 97 cents a share in the 2Q 2009, as Atlanta Business Chronicle reported.
In the 2Q 2010, RockTenn had $3.3 million in pre-tax expense for the write off of unamortized deferred financing costs and debt discount and $1 million in pre-tax restructuring and other costs for plant closing related asset impairments.
2Q sales were $731.9 million, compared with $676.3 million in the 2Q 2009. Gross margin declined to 22% from 25.4%.
“RockTenn achieved another quarter of strong earnings and cash flow generation as sales volumes rose over the prior year quarter mitigating the impact of higher recycled fiber costs, which peaked late in the month of March,” said James A. Rubright, Rock-Tenn Chairman and CEO.
RockTenn is one of North America’s leading manufacturers of paperboard, containerboard and consumer and corrugated packaging.