Clearwater Paper Corporation has reported net sales of $436m for the fourth quarter of 2019, up from $429m reported at the same period in 2018.
Net income for the fourth quarter was $2m compared to a net loss a year earlier of $188m. For the year ended 2019, net sales were $1.8bn, up from $1.7bn reported for the year ended 2018. A net loss for the year of $6m compared to a net loss of $144m in 2018.
The company said it had “a strong finish to 2019 due to lower input pulp and fibre costs in the fourth quarter, and lower maintenance costs and expense timing.
“We also had a strong sales quarter for tissue, which grew sequentially for the fifth consecutive quarter.
“In addition, our new Shelby, North Carolina facility is producing to quality specifications for both ultra and premium tissue.
“Throughout the year, we intend to focus on continuing to improve our operational capabilities to ensure we are well- positioned to generate cash flow to de-lever our balance sheet.”
For the company’s consumer products sector, net sales for the fourth quarter were $231m, up 8% compared to fourth quarter 2018 net sales of $213m.
This increase was due to higher retail tissue volumes sold offset by slightly lower prices due to mix. Total tissue volumes sold were 88,141 tonnes in the fourth quarter of 2019, an increase of 7,161 tonnes or 9% compared to 80,980 tonnes in the fourth quarter of 2018.
Average tissue net selling prices decreased 1.3% to $2,593 per tonne in the fourth quarter of 2019, compared to $2,627 per tonne in the fourth quarter of 2018.
Net sales in the pulp and paperboard segment were $205m for the fourth quarter of 2019, down 5% compared to fourth quarter 2018 net sales of $216m.