Caraustar posts loss for second quarter.Caraustar Industries Inc. has announced that sales for its second quarter of 2007 were $235.6 million, a decrease of 10.3 percent compared to sales of $262.7 million for the same quarter in 2006. Included in the second quarter 2006 sales were $21.4 million related to the company's Rittman, Ohio Rittman is a city in Medina and Wayne counties in the U.S. state of Ohio. The city is governed by Wayne County, although a small portion of the city is located in Medina County. The population was 6,314 at the 2000 census. , and Sprague, Conn., coated recycled paperboard operations, both of which were exited in 2006. The second quarter 2007 loss from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the was affected by non-cash asset write-offs of $1 million, or 2 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. , related to the sale of the Mooresville, N.C., converting location and $0.7 million, or 2 cents per share, in severance and unemployment taxes. Total paperboard controlled volume for the second quarter of 2007 decreased about 87,000 tons, or 26.7 percent, compared to the second quarter of 2006. In the past year, as a part of the transformation plan to rationalize underperforming assets, the company exited its Sprague and Rittman mills, and closed its Lafayette, Ind., and Reading, Pa., mills. Those four mills, in aggregate, sold 78,800 tons in the second quarter 2006. Excluding these mills, total paperboard controlled in the second quarter 2007 compared to prior year decreased 8,200 tons, or 3.3 percent versus an industry decline of 6.3 percent. The rationalization of 10 converting facilities (two folding carton The folding carton created the packaging industry as it is known today, beginning in the late 19th century. Basically, a folding carton is made of paperboard, and is cut, folded, laminated and printed for transport to manufacturers. and eight tube and core plants) during the same time also adversely affected volume. Gypsum gypsum (jĭp`səm), mineral composed of calcium sulfate (calcium, sulfur, and oxygen) with two molecules of water, CaSO4·2H2O. It is the most common sulfate mineral, occurring in many places in a variety of forms. facing paper volume, including volume at the company's 50 percent owned unconsolidated Premier Boxboard box·board n. A firm cardboard used for making boxes. Ltd. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control joint venture, declined 27.9 percent compared to the same quarter last year, as the demand for wallboard continued to be soft. Offsetting this shortfall, production at the gypsum facing paper mills exceeded the prior year's, as the company leveraged its flexibility in producing other grades. Quarter-over-quarter, mill margins increased $16 per ton as a fiber cost increase of $38 per ton was more than offset by higher selling prices of $43 per ton and lower fuel and energy costs of $11 per ton. Tube and core margins remained relatively stable compared to the same period last year. |
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