Boise
Inc. (NYSE: BZ) today reported a net loss of $(2.2) million, or $(0.02) per
diluted share, for second quarter 2013, compared with net income of $13.7
million, or $0.14 per diluted share, for the same period in 2012. Excluding
special items, net income was $10.5 million, or $0.10 per diluted share, for
second quarter 2013. EBITDA, excluding special items,(1) was $71.2 million for
second quarter 2013, compared with $75.1 million for second quarter 2012.
Special items during the quarter included $15.3 million of pretax costs, of which $9.0 million will be cash expenditures related primarily to our plan to shut down two uncoated freesheet paper machines and an off-machine coater at our mill in International Falls, Minnesota. Additionally, we recorded $5.5 million of incremental depreciation expense related to shortening the useful lives of some of our assets, primarily at our mill in International Falls.
Special items during the quarter included $15.3 million of pretax costs, of which $9.0 million will be cash expenditures related primarily to our plan to shut down two uncoated freesheet paper machines and an off-machine coater at our mill in International Falls, Minnesota. Additionally, we recorded $5.5 million of incremental depreciation expense related to shortening the useful lives of some of our assets, primarily at our mill in International Falls.
