Badger Reports First Quarter 2005 Loss.PESHTIGO Peshtigo (pĕsh`tĭgō'), city (1990 pop. 3,154), Marinette co., NE Wis., on the Peshtigo River 6 mi (9.7 km) inland from its mouth on Green Bay; inc. 1903. , Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. . -- Badger badger, name for several related members of the weasel family. Most badgers are large, nocturnal, burrowing animals, with broad, heavy bodies, long snouts, large, sharp claws, and long, grizzled fur. Paper Mills, Inc. (Nasdaq SmallCap: BPMI BPMI Business Process Management Initiative (HP, Nortel, Sun, Sybase, Etc.) BPMI British Profile Management Initiative ), one of the nation's leaders in the manufacture of flexible packaging and specialty papers, reported a net loss of $1,041,000 for the first quarter of 2005 compared to a net loss of $1,876,000 for the same period last year. The 2004 quarter results included a $1,303,000 restructuring charge restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. . 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 for the first quarter of 2005 were $15,500,000 compared to $17,378,000 for the same period last year, a decrease of $1,878,000, or 10.8%. The sales decrease is attributable primarily to lower shipment volumes of paper products resulting from reduced demand and a challenging fine paper pricing environment. Operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: for the first quarter of 2005 were negatively impacted by higher costs for raw materials, energy, transportation and employee benefits. The Company also voluntarily incurred downtime The time during which a computer is not functioning due to hardware, operating system or application program failure. on its Fourdrinier paper machine to balance production with demand. Further information concerning risks and uncertainties as well as additional material risks related to the Company's business may be found in the Company's Annual Report on form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2004. Financial Table Follows
BADGER PAPER MILLS, INC. & SUBSIDIARY
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS
(Unaudited)
(Dollars in thousands, except
share and per share data) For Three Months Ended
March 31
-------------------------
2005 2004
Net Sales $15,500 $17,378
Cost of Sales 15,084 16,641
---------- ----------
Gross Profit 416 737
Selling and Administrative Expenses 1,267 1,193
Restructuring Charge 0 1,303
---------- ----------
Operating Loss (851) (1,759)
Interest Expense (197) (123)
Interest Income 0 1
Other Income (Expense), Net 7 5
---------- ----------
Loss Before Income Taxes (1,041) (1,876)
Income Tax Benefit 0 0
---------- ----------
Net Loss ($1,041) ($1,876)
========== ==========
Net Loss Per Share - Basic and Diluted ($0.51) ($0.92)
Average Shares Outstanding - Basic and
Diluted 2,050,783 2,039,618
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion