RockTenn reported 1Q net income of $56.3 million
Feb 02, 2010. RockTenn reported its 1Q net income of $56.3 million or $1.43 per share, compared to $30.6 million or $0.79 per share in the same period last year.
Feb 02, 2010. /Lesprom Network/. RockTenn reported its 1Q net income of $56.3 million or $1.43 per share, compared to $30.6 million or $0.79 per share in the same period last year.
The results for the 1Q 2010 include $3 million in pre-tax restructuring and other costs mostly for plant closing related asset impairments. The company also incurred $400,000 in pre-tax operating losses at previously closed facilities. 1Q sales were down 1.7% to $690.8 million, the company said in a press release received by Lesprom Network.
“Rock-Tenn posted another quarter of strong earnings and cash flow generation, as cost savings and operational improvement programs and higher paperboard shipments largely offset higher input costs,” said James A. Rubright, Rock-Tenn Chairman and CEO. “In the seasonally weak December quarter, cash flow from operations was $96 million, up 84% over the prior year quarter.”
RockTenn produces paperboard, containerboard and consumer and corrugated packaging.