Appleton Papers posts 1Q profit; to become Appvion on May 13:
Appleton Papers Inc. on Monday reported a first-quarter profit, turning around a year-ago loss, as the maker of coated transaction paper continued its restructuring and prepared to change its corporate name to reflect its recent changes.
In the January-March quarter, Appleton reported net income of $2.14 million, compared to a loss of $64.9 million a year earlier.
Appleton's sales fell 4.0% to $210.8 from $219.6 million. The decline stemmed from the company's longtime core product of carbonless transaction paper, which fell 21%.
