http://ruksa.org/?p=57
The Austell, Ga.-based recycled paperboard and packagingcompanuy (NASDAQ: CSAR) posted a net loss of $4.4 milliob and a loss per share of 15 compared with net income of $200,000p and earnings of 1 cent a sharde in the first quarter of 2008. The resultxs for the first quarter of 2009include $9.5 million in restructurinh and impairment costs, while the results for the comparablew period in 2008 include $700,000 in restructuring and impairmentf costs. The loss was mostlu due to thoseincreased costs, a higher pension expensr of $2.3 million and higher professional fees of $1.9 millionm related to efforts to restructur e the company's senior notes maturinyg on June 1.
Sales dipped about 27 percengtto $159.3 million in the firsgt quarter. "Despite a challenging economic backdrop, the company was able to deliversolid results,” said Michael J. Keough, president and CEO of in an earnings release. “... Our firsr quarter 2009 results, however, were impacted by weaketr volume, particularly in our tube and core as industrial productionremained slow. We recoupesd some losses due to lowerfibef costs, quarter-over-quarter.
We are beginning to see margin compressiobn as fiber costs rise and capacithy utilization decreases because ofdeclining
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