Wednesday, March 7, 2012

Verso Reports 2011 & Q4 Results


http://www.versopaper.com/
Verso reported net sales for 2011 were up 7.3% to $1.7 billion versus $1.6 billion for 2010. Approximately $83 million in "special item" costs, such as costs related to the shutting down of three paper machines, debt refinancing and goodwill impairments, were tacked on to a pre-item loss of about $54 million. New product development costs were about $5 million for the year. In all, Verso recorded a net loss of $137 million.