Clearwater Paper Co. reports increase in 1Q net income

Clearwater Paper Co. reported an increase in net income during the first quarter of 2019.

The Spokane-based company said it had $3.8 million in net income – or 23 cents per share – during the period, compared with earnings of $2.6 million – or 16 cents per share – in the first quarter of 2018.

The net income increase is attributed to improved operating results in paperboard driven by higher pricing and reduced reorganization expenses associated with cost-reduction efforts in 2018, according to a company statement.

Clearwater Paper reported net sales of $428.8 million for the first quarter, a 1.9% decrease from the first quarter of 2018.

The company stated sales numbers were affected by lower paperboard and tissue shipments as well as the sale of the company’s mill in Wisconsin last year.