News Column

BRIEF: Verso says quarterly profits down 3%

August 14, 2014

The Commercial Appeal, Memphis, Tenn.



Aug. 14--Verso Paper Corp. said second-quarter profits slipped 2.8 percent.

The Memphis paper manufacturer issued an earnings report Thursday that says sales slipped to $320.9 million in the second quarter compared to $330.4 million in the second quarter of 2013.

In a statement released by the company, Verso chief executive officer David Paterson said:

"During the second quarter we experienced continued strength in the pulp and specialty paper segments of our business. We experienced double digit improvements in these segments over the previous year, and we expect them to remain strong into the third quarter of 2014. During the second quarter our coated papers segment continued to show weakness in both price and volumes on a year over year basis," Paterson said.

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(c)2014 The Commercial Appeal (Memphis, Tenn.)

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Source: Commercial Appeal (Memphis, TN)


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