Neenah Paper Reports First Quarter Results
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"The sale of our timberlands in March also significantly improved our capital structure and, coupled with ongoing cash-generating ability from our businesses, makes us well-positioned to support future growth."
The Company also reported net income from discontinued operations of $135 million, or $8.81 per diluted common share, in the first quarter of 2010 compared to income of $0.1 million in the first quarter of 2009. Income in 2010 primarily resulted from gains related to the sale of the Company's timberlands on March 12 for $82.5 million.
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- Companies:
- Neenah Paper
- People:
- Sean Erwin
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