Verso Paper generates net loss of $20.7 million in 2Q 2012, up from net loss of $24.3 million in year-earlier period."Demand in the coated industry continued to be challenged during the second quarter of 2012 which resulted in a delay in the announced price increases during the quarter. This was primarily a result of the drop-off in advertising spending and slowdowns in the commercial print area which are impacted by the sluggish GDP growth. However, our coated groundwood and coated freesheet volumes were relatively flat with last year's levels and we did a good job of managing our pricing relative to overall market demand. Adjusted EBITDA was comparable to the first quarter of this year and slightly better if you exclude the over $5.0 million impact related to scheduled maintenance outages we took during the second quarter," said David Paterson, President and Chief Executive Officer of Verso.
http://www.4-traders.com/VERSO-PAPER-CORP-3023920/news/Verso-Paper-Corp-Reports-Second-Quarter-2012-Results-14453436/
• EBITDA of $44.4 million in the second quarter of 2012 compared to $38.8 million in the second quarter of 2011, and Adjusted EBITDA before pro forma effects of profitability program of $23.5 million in the second quarter of 2012, compared to $43.6 million in the second quarter of 2011. (Note: EBITDA and Adjusted EBITDA are non-GAAP financial measures and are defined and reconciled to net income later in this release). • Net loss of $20.7 million in the second quarter of 2012, or $0.39 per diluted share, compared to a net loss of $24.3 million, or $0.46 per diluted share in the second quarter of 2011. • Operating loss of $9.5 million in the second quarter of 2012 compared to operating income of $7.0 million in the second quarter of 2011. • Net sales of $365.3 million in the second quarter of 2012 compared to $398.8 million in the second quarter of 2011.
