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Buckeye Quarterly Profit Triples

Buckeye Technologies Inc., Memphis, TN, has revealed its earnings for the July-September quarter.

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By: Karen McIntyre

Editor, Nonwovens Industry

Buckeye Technologies Inc., Memphis, TN, has revealed its earnings for the July-September quarter. Net sales climbed to $197 million from $191 million during the same period a year ago. Net income reached $13.4 million versus $3.8 million in the July-September quarter of 2006.

Chairman and CEO John Crowe said, “First quarter net sales were up 3% compared to the same period last year. The earnings improvement is a combination of higher prices, better mix and cost control. Nonwovens shipments were especially strong with net sales up 10% compared to the same period last year.” He added that strong cash flow enabled the company to reduce debt by $26 million during the just-completed quarter. Demand for its specialty wood and cotton products, nonwoven materials and fluff pulp reportedly continues to be strong.

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