BOSTON (Thomson Financial) - Buckeye Technologies Inc. Monday reported
third-quarter net income of $10.4 million, or 26 cents a share, including
$800,000, or 2 cents a share, of a tax benefit related to the identification of
additional research and development tax credits.
In the year-earlier quarter, the company posted net income of $13.9 million,
or 35 cents a share.
The mean estimate of three analysts polled by Thomson Reuters was for 25
cents a share.
Net sales for the three-month period ended March 31 rose 5% to $201.9
million from $193 million a year earlier. Three Wall Street analysts were, on
average, forecasting sales of $201.5 million.
Buckeye also said unplanned maintenance outages at its Florida wood
cellulose facility, delayed shipments because of ocean vessel availability and
lower nonwovens sales negatively impacted its results.
Shares of the Memphis, Tenn.-based wood and cotton specialty products
manufacturer closed Friday at $8.62.
Greg Saulnier
gs/vj
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|