April 26, 2010 / 9:46 PM / 8 years ago

UPDATE 1- Wausau Paper Q1 earnings beat estimates

* Adj EPS $0.08 vs est EPS $0.04

* Revenue up 7 pct to $256 mln

* Strong tissue segment boosts results

April 26 (Reuters) - Wausau Paper Corp (WPP.N) posted better-than-expected quarterly results, helped by higher margins from its tissue segment, and said it expects second-quarter earnings to “improve modestly” sequentially.

“We remain focused on driving long-term profitability by accelerating growth in our highly successful tissue business,” Chief Executive Thomas Howatt said in a statement.

For the first quarter, the paper maker earned $2.9 million, or 6 cents a share, compared with a net loss of $1.4 million, or 3 cents a share a year ago.

Excluding items, the company earned 8 cents a share.

    Revenue rose 7 percent to $256 million.

    Analysts expected the company to earn 4 cents a share, before items, on revenue of $245.5 million, according to Thomson Reuters I/B/E/S.

    Operating profit at the company’s tissue segment rose 52 percent to $11.1 million.

    Shares of Mosinee, Wisconsin-based Wausau closed at $9.84 Monday on the New York Stock Exchange. (Reporting by Vinay Sarawagi in Bangalore; Editing by Don Sebastian)

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