April 30 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)