MeadWestvaco reported 4Q net loss of $16 million
Jan 28, 2009. /Lesprom.com/. MeadWestvaco Corp. has reported a 4Q net loss of $16 million or $0.09 per share, compared to net income of $148 million or $0.82 per share in the same quarter last year.
Jan 28, 2009. /Lesprom.com/. MeadWestvaco Corp. (MWV) has reported a 4Q net loss of $16 million or $0.09 per share, compared to net income of $148 million or $0.82 per share in the same quarter last year, the company said in a statement received by Lesprom Network.
Sales for the quarter decreased 7% to $1.6 billion from $1.7 billion in the comparable quarter last year. Analysts expected the company to report revenue of $1.68 billion for the quarter.
Full-year 2008 sales from continuing operations were $6.64 billion, 4 percent higher than 2007 sales from continuing operations of $6.41 billion.
Full-year 2008 income from continuing operations was $80 million, or $0.46 per share, and included after-tax restructuring charges of $44 million, or $0.26 per share, related to facility closures, asset write-downs and employee separation costs.
The company also declared a regular quarterly dividend of $0.23 per common share payable on March 2, 2009, to shareholders of record at the close of business on February 5, 2009.
MeadWestvaco Corporation provides packaging solutions to many of the world’s most-admired brands in the healthcare, personal and beauty care, food, beverage, media and entertainment, and home and garden industries.