Clearwater Paper Q4 Profit Rises, Authorizes $100 Mln Stock Buyback

(RTTNews) - Clearwater Paper Corp. (CLW) Wednesday reported fourth-quarter net income of $82.9 million or $3.87 per share, up from $19.9 million or $0.84 per share last year share.

The recent fourth quarter results included a $59.7 million benefit.

Excluding special items, fourth quarter earnings were $23.1 million or $1.09 per share, up from $19.4 million, or $0.82 per share last year.

The company's net sales rose to $470.2 million from $462.7 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.76 per share onr revenues of $476.63 million for the quarter.

Clearwater also authorized the repurchase of up to $100 million of its common stock. This authorization follows the successful completion of the company's previous $100 million stock repurchase authorization last year, which was implemented by the board in January 2013. Clearwater Paper expects to fund the repurchases through available cash resources.