Wasau Paper has published its Q4 and full-year 2013 financial results. Net sales increased 4.8 percent to $91.1 million in the fourth quarter of 2013, a fourth quarter record, compared to $87.0 million in the fourth quarter of 2012. Full-year 2013 net sales increased 1.3 percent to $348.6 million compared to $344.2 million for full year 2012.
On a reported basis, fourth-quarter 2013 results from continuing operations were a net loss of $0.16 per share. Excluding special items, adjusted net loss per share from continuing operations were $0.00, improving sequentially from the third quarter of 2013 adjusted net loss from continuing operations, excluding special items, of $0.02 per share. Fourth quarter adjusted EBITDA was $11.6 million, up from adjusted EBITDA of $10.6 million in the third quarter of 2013.
On a reported basis, full-year 2013 results from continuing operations were a net loss of $0.57 per share. Excluding special items, the adjusted net loss from continuing operations in 2013 was $0.15 per share, compared to net earnings of $0.19 per share for 2012.
Henry C. Newell, president and CEO, commented, "Wausau Paper is now uniquely positioned to create value as a company 100 percent focused on tissue, with a highly differentiated strategy that will continue to demonstrate above market rates of growth and expanding margins. Over the past year, we have completed the strategic repositioning of the Company, ramped up our Harrodsburg operations and launched a total of 20 new premium towel and tissue products — with more new products to come in 2014. As a result, our shipment volume grew 2 to 3 times the market’s growth rate, with second half growth of 4 to 5 times the market, and expanded adjusted EBITDA and adjusted EBITDA margins every quarter."
