Apr 29, 2008. /Lesprom.com/. Glatfelter reported that net sales increased 8.7% to $305.5 million for the 1Q 2008, compared with $281.0 million for the 1Q 2007. Net income for the 2008 first quarter was $19.7 million, or $0.43 per diluted share, compared with net income of $3.3 million, or $0.07 per diluted share, for the prior-year period. 1Q 2008 net income includes $8.7 million of gains on timberland sales and $0.4 million of acquisition integration costs, each after-tax. The results for the previous year’s 1Q included $1.9 million in gains from the sale of timberlands, a $3.7 million charge to increase the Company’s reserve for environmental matters at the Fox River, $0.1 million in shutdown and restructuring charges, and $0.4 million in acquisition integration costs, all after taxes. Excluding these items from each period’s results, first quarter 2008 adjusted earnings per share, which constitute a non-GAAP financial measure, were $0.25 per diluted share, compared to $0.12 per diluted share in the 1Q 2007. “The significant improvement in year-over-year performance reflects successful implementation of our profit improvement initiatives supported by favorable demand trends and price increases,” said George H. Glatfelter II, chairman and CEO. “With further evidence emerging of a slowing U.S. economy and record high energy costs, aggressive management of our cost structure remains necessary to ensure that our success continues. Accordingly, we are intensifying our process improvement and cost reduction initiatives across the Company and are making targeted investments at several facilities to increase productivity and output. We believe these actions will help sustain the Company’s progress despite the challenging environment,” Glatfelter said. Glatfelter is a global manufacturer of specialty papers and engineered products.