Verso Paper reports wider 2Q loss but says demand has improved; revenue jumps 35 percentBy AP
Wednesday, August 11, 2010
Verso Paper reports wider 2Q loss
MEMPHIS, Tenn. — Verso Paper Corp. booked a wider second-quarter loss on Wednesday, absent one-time gains that helped results in the year-ago period.
But the paper supplier said volume and pricing have improved over last year as the economy picks up. It reported a 35 percent jump in revenue.
The company’s net loss came to $44.3 million, or 85 cents per share, in the three months that ended June 30. That compares with a year-earlier loss of $10.2 million, or 20 cents per share.
Stripping out unusual items, the loss came to $42.8 million, or 82 cents per share, compared with $70.5 million, or $1.35 per share, a year ago.
Revenue climbed to $401.1 million from $298.1 million.
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