RockTenn reported 3Q net sales of $1,382.1 million
Aug 03, 2011. RockTenn reported a loss for the 3Q, ended June 30, 2011 of $0.60 per diluted share due to Smurfit-Stone acquisition related charges. Net sales of $1,382.1 million for the 3Q 2011 increased $610.2 million, or 79.1% over the 3Q 2010, primarily as a result of the May 27, 2011, Smurfit-Stone acquisition.
Aug 03, 2011. /Lesprom Network/. RockTenn reported a loss for the 3Q, ended June 30, 2011 of $0.60 per diluted share due to Smurfit-Stone acquisition related charges. RockTenn’s adjusted earnings were $1.29 per diluted share, up 13% compared to the prior year quarter adjusted earnings of $1.14 per diluted share, as the company said in a press release received by Lesprom Network.
Net sales of $1,382.1 million for the 3Q 2011 increased $610.2 million, or 79.1% over the 3Q 2010, primarily as a result of the May 27, 2011, Smurfit-Stone acquisition.
RockTenn Chairman and CEO James A. Rubright stated, “Our 13% adjusted earnings increase over the prior year quarter and 24% increase over the immediately preceding quarter resulted from the earnings accretion from the 34 days of operating results in the quarter following the acquisition of Smurfit-Stone on May 27, 2011. We expected this acquisition to be highly accretive to earnings, and it has been and should continue to be so. We are ahead of our expectations on capturing synergies from the acquisition and estimate that by quarter end we had achieved a run rate of synergy capture of between $75 million and $80 million.”
RockTenn is one of North America's leading integrated manufacturers of corrugated and consumer packaging and recycling solutions. The Company operates locations in the United States, Canada, Mexico, Chile, Argentina and China.