Boise Staff Report
Boise Inc. last week reported an increase in net income for the second quarter of 2012 compared with the same period last year.
The company reported net income of $13.7 million, or $0.14 per diluted share, for second quarter 2012, compared with net income of $11.9 million, or $0.11 per diluted share, for the same period in 2011. Earnings before interest, taxes, depreciation and amortization, known as EBITDA, was $75.1 million for second quarter 2012, compared with $70.5 million for second quarter 2011.
Boise Inc., traded on the New York Stock Exchange as BZ, owns the Boise paper mill in International Falls.
“Our businesses performed well in second quarter 2012, said Alexander Toeldte, president and chief executive officer, in a prepared statement. “Total sales grew 6 percent and net income grew 15 percent over second quarter 2011. These results were driven by record quarterly sales from our packaging business and improved earnings in our paper business. Additionally, we efficiently and safely worked through annual maintenance outages at three of our mills during the quarter.”
“We continue to integrate Tharco and Hexacomb into our packaging business, increasing our vertical integration. In our paper business, increased sales volumes of label and release papers offset secular declines in communication papers,” said Toeldte.
“As we look ahead to third quarter, we anticipate improved selling prices, moderately increasing chemical and energy costs, and lower annual outage costs. We continue to focus on building shareholder value through well-performing operations, disciplined capital allocation, and growth.”
Second quarter highlights
• Overall sales of $637.8 million, up 6 percent from second quarter 2011
• Net income of $13.7 million, up 15 percent from second quarter 2011
• EBITDA of $75.1 million, up 7 percent from second quarter 2011
• Record sales in Packaging segment of $284.8 million, up 17 percent from second quarter 2011
