Due to the completed
sale and the first-quarter closure of its former manufacturing facility in
Brainerd, Minnesota, financial performance of the former Paper segment,
including an after-tax impairment charge of approximately $40.1 million as a
result of the second-quarter sale, is reported as discontinued operations.
Including a loss of
$0.81 per share from discontinued operations, net of tax, the 2013 second
quarter net loss was $1.11 per share.On a reported basis, the second quarter 2013 results from continuing operations was a net loss of $0.30 per share.
Results of continuing operations reflect the impact of the start-up of the new Harrodsburg manufacturing and converting capabilities, as well as manufacturing and inventory transition in support of the new products related to the $220 million Tissue expansion project.
