Clearwater Paper Corporation recently reported financial results for the second quarter ended June 30, 2010. The company reported net earnings for the second quarter of 2010 of $20.6 million, or $1.75 per diluted common share, compared to net earnings of $75.4 million, or $6.43 per diluted common share, for the second quarter of 2009. Second quarter 2009 results included special items totaling $4.60 per share for alternative fuel mixture tax credits, renewable energy tax credits and debt retirement costs. Excluding those items, second quarter 2009 diluted earnings were $1.83 per share.
"Second quarter revenues were solid for both Consumer Products and Pulp and Paperboard. Strong demand from our customers across our businesses as well as solid operating performance resulted in strong earnings for the quarter," said Gordon Jones, chairman, president and chief executive officer. "To better meet demand in our Consumer Products segment, we broke ground in early July on our converting facility at Shelby, North Carolina. We are pleased with the Shelby site as the home of our expanded papermaking and converting operations."
