Buckeye earnings fall

08/02/2006

Manufacturer of specialty fibres and nonwoven materials Buckeye Technologies Inc. earned $1.9 million after tax in the quarter ended December 31, 2005. The company's results included $0.7 million after tax in restructuring expenses associated with the closure of the Glueckstadt, Germany cotton linter pulp plant. The Glueckstadt manufacturing facility ceased production in December.

During the same quarter of the prior year, the company earned $2.9 million after tax, which included $6.6 million after tax in restructuring and impairment costs and a $4.7 million after tax gain from the sale of a building and equipment located at Cork, Ireland.

Net sales in the quarter were $188.3 million, 4% above the $180.6 million in the same quarter of the prior year.

Buckeye operates facilities in the United States, Germany, Canada, and Brazil.