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Buckeye Q2 net sales up14%
30
Jan '08
Buckeye Technologies Inc announced earnings for the October-December quarter of 35 cents per share. This compares to earnings for the same period last year of 10 cents per share.

Chairman and Chief Executive Officer John B. Crowe said, “We had an exceptional quarter. Second quarter net sales were up 14% compared to the same period last year.

Sales of $211 million are our highest revenue quarter ever. The earnings improvement is a combination of higher pricing, higher specialty wood volume and cost control.”

Mr. Crowe went on to say, “We are pleased with the quarter and year-to-date revenue and income growth. Our markets remain solid and we will benefit from price increases that we implemented in January.

In the current quarter, we anticipate lower nonwovens production and revenue due to our previously announced volume reduction from our Delta nonwovens facility.

Additionally, we expect higher manufacturing costs at our Florida specialty wood facility due to planned maintenance inspections.

While the just completed quarter's earnings performance will be difficult to repeat, we do anticipate strong performance in the January-March quarter 2008.”

Buckeye has scheduled a conference call at 10:00 a.m. EST, Wednesday, January 30, 2008 to discuss second quarter performance.

Buckeye Technologies Inc


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