Wausau Papertoday reported second quarter net earnings for the second quarter of $2.1 million, or $0.04 per share, compared with net earnings of $4.8 million, or $0.10 per share, in the prior year. Citing flat shipments, the company also reported a net sales decline of 1%, to $212.9 million.
Restructuring costs help explain the earnings loss. During the first and second quarters of 2012, Wausau Paper said it “substantially completed” the sale of its premium Print & Color brands, inventory and select equipment, and the permanent closure of its Brokaw, Wis. manufacturing site. The company began reporting the operations of the Brokaw manufacturing facility and related closure activities as a discontinued operation as of March 31, 2012.
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