NewPage Announces Second Quarter 2011 Financial Results

August 15, 2011 by timbercommunity

Adjusted EBITDA excluding items was $68 million; Available liquidity of $136 million as of June 30, 2011 Net sales in the second quarter of 2011 were $888 million compared to $890 million in the second quarter of 2010. Higher average paper sales prices were offset by lower sales volume during the second quarter of 2011 due in part to certain unplanned outages as well as reduced overall demand. Net income (loss) was $(132) million in the second quarter of 2011 compared to $(174) million in the second quarter of 2010. Adjusted EBITDA (as defined in the attached reconciliation), as further adjusted to exclude certain items shown in the table below, was $68 million in the second quarter of 2011 compared to $20 million in the second quarter of 2010.