Wasau paper has reduced its first-quarter loss significantly due to the steps the company has taken to preserve cash and reduce costs.
Its net loss for the quarter declined 80 percent to $1.4 million compared with $6.8 million in the same period a year ago. Net sales declined 20 percent to $238.8 million, from $298.7 million a year ago, as a result of declining volumes from facility closures and weakening demand.
Wausau Paper president and CEO Thomas Howatt said the company's three business units reported improved profits, before one-time charges, because of the various moves the company has made over the past 18 months.
The company's restructuring includes facility closures and related job reductions and the sale of timberlands.