Neenah
Paper, Inc. today reported adjusted earnings from continuing operations of
$0.74 per diluted common share in the first quarter of 2013 compared to
adjusted earnings of $0.77 per share in the first quarter of 2012. Without
adjustments, reported earnings in the first quarter of 2013 were $0.73 per
diluted share and compared to $0.54 per share in the prior year period.
Adjusted earnings excluded costs of $0.01 per share in 2013 to integrate brands
purchased from Southworth in January 2013 and excluded costs of $0.23 per share
in 2012 for acquisition costs and a pension settlement charge.
Net
sales of $213.2 million in the first quarter of 2013 increased eight percent
compared with the first quarter of 2012. Revenues increased in both segments,
with growth in Fine Paper aided by additional volumes from acquired brands.
