* Q3 EPS misses estimates
* Q3 revenue rises more than three-fold to $207.7 mln
Nov 10 (Reuters) - KapStone Paper and Packaging Corp posted third-quarter earnings that fell short of analysts' consensus view, partly hurt by higher raw material and freight costs.
In the latest quarter, the unbleached kraft paper and lightweight linerboard producer's net income fell by 70 percent to $2.3 million.
Excluding stock-based compensation and other items, the company earned 27 cents a share. Two analysts on average expected earnings of 29 cents a share, before items but after stock-based compensation, according to Reuters Estimates.
The company said the change in timing of the annual planned maintenance outage at the Roanoke Rapids Mill lowered operating income by $6 million due to increased costs.
Production at the mill was reduced by about 10,000 tons due to the outage, the company added.
Additional price increases implemented to offset rising costs will be realized in the fourth quarter, KapStone said in a statement.
Total revenue soared more than three-fold as sales from the unbleached kraft segment surged 230 percent to $194.7 million, boosted by the recent acquisition of the Charleston Kraft division from MeadWestvaco Corp.
Shares of the Northbrook, Illinois-based company closed at $5.01 Monday on Nasdaq.
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(Reporting by Antonita Madonna Devotta in Bangalore; Editing by Deepak Kannan) Keywords: KAPSTONEPAPERANDPACKAGING/ (antonita.madonna@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: antonita.madonna.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q3 revenue rises more than three-fold to $207.7 mln
Nov 10 (Reuters) - KapStone Paper and Packaging Corp posted third-quarter earnings that fell short of analysts' consensus view, partly hurt by higher raw material and freight costs.
In the latest quarter, the unbleached kraft paper and lightweight linerboard producer's net income fell by 70 percent to $2.3 million.
Excluding stock-based compensation and other items, the company earned 27 cents a share. Two analysts on average expected earnings of 29 cents a share, before items but after stock-based compensation, according to Reuters Estimates.
The company said the change in timing of the annual planned maintenance outage at the Roanoke Rapids Mill lowered operating income by $6 million due to increased costs.
Production at the mill was reduced by about 10,000 tons due to the outage, the company added.
Additional price increases implemented to offset rising costs will be realized in the fourth quarter, KapStone said in a statement.
Total revenue soared more than three-fold as sales from the unbleached kraft segment surged 230 percent to $194.7 million, boosted by the recent acquisition of the Charleston Kraft division from MeadWestvaco Corp.
Shares of the Northbrook, Illinois-based company closed at $5.01 Monday on Nasdaq.
For the alerts, please click
(Reporting by Antonita Madonna Devotta in Bangalore; Editing by Deepak Kannan) Keywords: KAPSTONEPAPERANDPACKAGING/ (antonita.madonna@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: antonita.madonna.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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