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Int'l Paper posts 1st-qtr loss after Alabama mill closure charge
April 30, 2014 / 11:06 AM / 3 years ago

Int'l Paper posts 1st-qtr loss after Alabama mill closure charge

April 30 (Reuters) - International Paper Co, the largest North American producer of corrugated shipping boxes, posted a quarterly loss on Wednesday due to charges to close an Alabama paper mill.

The company had a first-quarter net loss of $95 million, or 21 cents per share, compared with net income of $318 million, or 71 cents per share, in the year-ago period.

Revenue fell 1 percent to $7.01 billion.

IP said in January it would close its Courtland, Alabama, mill, and took a $495 million first-quarter charge. (Reporting by Ernest Scheyder; Editing by Jeffrey Benkoe)

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