KapStone Paper and Packaging Corporation today reported results for the third quarter ended September 30, 2011.
Record net sales of $216 million, up 4 percent versus 2010
Adjusted EBITDA of $42.3 million, up $3.6 million versus 2010
Diluted EPS of $0.35, down $0.47, or 57 percent versus 2010
Adjusted diluted EPS of $0.39 equal to 2010
Free cash flow of $0.79 per share, up $0.26 per share versus 2010
Roger W. Stone, Chairman and Chief Executive Officer, stated, "KapStone's strong production in the third quarter of 2011 enabled us to achieve record net sales of $216 million and generate $38 million of free cash flow. Our mills produced nearly 329,000 tons of paper, and we improved operating margins year-over-year with pricing and productivity improvements. We are implementing a $50 per ton price increase for our kraft paper grades which will be fully realized in early 2012. Our order backlog remains strong."
KapStone Paper and Packaging Corp. said Monday it completed the purchase of U.S. Corrugated Inc., which operates a recycled containerboard paper mill in South Carolina.
Financial terms of the sale were not disclosed.
