Orchids Paper Products Company recently reported year-end 2012 financial results. Full year net sales increased $3.0 million, or 3%, to $100.8 million, marking the first time the company has achieved more than $100 million in net sales. Total net sales in the fourth quarter of 2012 decreased 6% to $24.0 million, compared with $25.7 million in the same period in 2011.
Full year net sales of converted product were $90.5 million, a new twelve-month record, which represented an increase of $8.6 million, or 10%, over 2011. Net sales of converted product in the fourth quarter of 2012 were $21.8 million, a decrease of $2.0 million, or 8%, over the prior year quarter.
Full year net income for 2012 was $9.3 million, an increase of $3.1 million, or 49%, compared to the $6.2 million in 2011. Fourth quarter 2012 net income was $2.2 million, a decrease of $561,000, or 21%, compared with $2.7 million of net income in the same period of 2011.
Mr. Robert Snyder, President and Chief Executive Officer, stated, "We are pleased to announce that our full year results include record sales levels for both converted product and total net sales, with converted product shipments of just over 7 million cases.
Mr. Snyder added, "Our expected business growth in 2013 is the result of our continued success in penetrating the mid and premium tier market.”
Orchids Paper Products Company is an integrated manufacturer of tissue paper products serving the at home private label consumer market.
