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Buckeye Reports October-December Results

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By: Karen McIntyre

Editor, Nonwovens Industry

Buckeye Technologies announced that it earned $2.9 million after tax in the quarter ended December 31, 2004. The company’s results include $7.4 million after tax in impairment costs relating to the previously announced closure of its facility in Glueckstadt, Germany and a $4.7 million after tax gain from the sale of its building and equipment in Cork, Ireland. Net sales for the quarter increased 12.7% to reach $180.6 million.

In the nonwovens segment, sales during the quarter increased from $51 million last year to $58 million, while income increased from $1.1 million to $3.4 million. For the six months ended December 31, sales rose from $104 million to $113 million. Income nearly doubled from $3.6 million to $7 million.

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