Feb 08, 2011. /Lesprom Network/. Wausau Paper reported 4Q net earnings of $15.2 million, compared with net earnings of $9.2 million in the prior year. Net sales increased 1% to $260.2 million while shipments declined 4% to 162,000 tons, as the company said in a press release received by Lesprom Network. 4Q results included a net credit of $12.7 million, related to conversion of the previously claimed alternative fuel mixture tax credit to the cellulosic biofuel producers tax credit; an after-tax charge of $2.4 million, related to a rate adjustment associated with a natural gas transportation contract for a former manufacturing facility in Groveton, New Hampshire; and an after-tax curtailment charge of $1.9 million, due to the freezing of benefits associated with a cash balance pension plan. For the full-year 2010, adjusted net earnings of $23.8 million, compared with adjusted net earnings of $28.8 million in the prior year. Net sales increased 2% to $1,055.7 million while shipments declined 3% to 667,000 tons. Thomas J. Howatt, President and CEO, commented, “2010 results reflect the earnings stability achieved through Tissue segment growth and Paper unit restructuring. Despite record high fiber costs, Tissue posted its second most profitable year and Paper achieved solid improvement over the second half of the year as input costs stabilized. And the company achieved its safest year on record, continuing a decade-long trend of improved safety performance. With modest debt and substantial credit capacity, the company is well-positioned to fund strategic investments. Given Tissue’s profitability and growth profile we view this business segment as our principle avenue for future investment.” Commenting on current business conditions and near-term outlook, Mr. Howatt remarked, “We expect 2011 to be a year of transition for the economy as a post recessionary environment gives way to more stable and predictable growth across our core markets. While first-quarter earnings will be impacted by the rebuild of our Brainerd machine, seasonal demand weakness and elevated fiber prices, we’re confident in our ability to achieve year-over-year earnings improvement over the balance of the year.” Wausau Paper produces and markets specialty papers for industrial, commercial and consumer end markets as well as a complete line of away-from-home towel and tissue products.