Appleton Reports Strong Third Quarter Results
Appleton's third quarter 2010 net sales of $214.9 million increased 9.8 percent compared to third quarter 2009 due to higher shipment volumes and the positive impact of price increases initiated during the first three quarters of the year.
Appleton reported third quarter 2010 operating income of $10.7 million compared to $6.9 million during third quarter 2009. Increasing raw material prices, which continued to negatively impact current quarter results, were offset by favorable price and mix and reduced manufacturing costs. By comparison, third quarter 2009 included a $5.0 million alternative fuels tax credit as a reduction to cost of sales and $4.2 million of additional SG&A expense as a result of the September 2009 voluntary debt-for-debt exchange.
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