Badger Paper Mills Continues Improved Earnings Trend.PESHTIGO, Wis.--(BUSINESS WIRE)--Oct. 17, 1997--Badger Paper Mills Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BPMI BPMI Business Process Management Initiative (HP, Nortel, Sun, Sybase, Etc.) BPMI British Profile Management Initiative ) announces the third quarter and year-to-date results. Claude L. Van Hefty, president, announced results for the third quarter and year-to-date 1997 compared to the same periods in 1996. Sales for the third quarter 1997 totaled $19,002,000 compared to $19,458,000 reported in 1996. Net income of $173,000, or 9 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for the third quarter 1997, compares to net income of $429,000 or 22 cents per share for the same period a year ago. For the nine months ended Sept. 30, 1997, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight were $53,034,000, compared to $58,690,000 a year earlier. A net loss of $608,000, or 31 cents per share, compares to net loss of $1,401,000, or 72 cents per share, for the first nine months of 1997 and 1996 respectively. These losses are directly related to the depressed commodity paper prices. The company has seen steady improvement of sales and operating performance in each quarter of 1997 as it continues to shift from commodity product markets to specialty niche markets A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. . The third quarter 1996 was favorably affected by a $253,000 gain on sale of timberlands. The third quarter of 1997 was adversely affected by additional interest expense of $180,000 due to higher borrowings associated with plant improvements incurred to align the company's manufacturing capabilities to its strategic plan. The comparison between the first nine months of 1997 and 1996 is affected by expenses associated with the 1996 closure of the company's pulp mill A pulp mill is a manufacturing facility that converts wood chips or other plant fiber source into a thick fiber board which can be shipped to a paper mill for further processing. in the amount of $7,430,000, which were partially offset by a gain on sale of timberlands of $4,878,000. Badger Paper Mills Inc. produces fine and specialty products, including printing and writing papers, xerographic xe·rog·ra·phy n. A dry photographic or photocopying process in which a negative image formed by a resinous powder on an electrically charged plate is electrically transferred to and thermally fixed as positive on a paper or other copying surface. , recycled papers, MG laminating lam·i·nate v. lam·i·nat·ed, lam·i·nat·ing, lam·i·nates v.tr. 1. To beat or compress into a thin plate or sheet. 2. To divide into thin layers. 3. grades, plain and printed waxed papers waxed paper n. Wax paper. waxed paper or wax paper Noun paper treated or coated with wax or paraffin to make it waterproof and various other specialty products at its manufacturing and converting divisions in Peshtigo and Oconto Falls, Wis. Badger-produced products are marketed under the tradenames Ta-Non-Ka(R), COPYrite(R), BPM, ENVIROGRAPHIC(R), Northern Brights(R) and FRESHrap(R). -0-
Badger Paper Mills Inc. and Subsidiary
Three Months Ended Nine Months Ended
____________________ ____________________
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
1997 1996 1997 1996
_________ _________ _________ _________
(thousands, except per
share amounts)
Net sales $ 19,002 $ 19,458 $ 53,034 $ 58,690
Income (loss) before taxes 262 651 (922) (2,124)
Net income (loss) 173 429 (608) (1,401)
Net income (loss) per share 0.09 0.22 (0.31) (0.72)
Weighted average common
shares outstanding 1,947,268 1,945,130 1,945,892 1,944,570
CONTACT: Badger Paper Mills Inc. Miles L. Kresl Jr., 715/582-4551 Fax: 715/582-4280 |
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