KapStone Paper And Packaging Q2 Profit Rises - Quick Facts

(RTTNews) - KapStone Paper and Packaging Corp. (KS) reported that its second-quarter net income increased to $20.99 million or $0.44 per share, from $18.40 million or $0.39 per share, last year. Adjusted net income was $23.37 million or $0.48 per share for the quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.44 for the quarter. Analysts' estimates typically exclude special items.

Consolidated net sales were $326 million compared to $306 million prior year. The company said the increase is primarily due to higher average selling prices as the $50 per ton 2012 containerboard price increase was fully realized and the April 2013 $50 per ton containerboard price increase was fully implemented by June and partially realized in the second quarter. Analysts expected revenue of $322.69 million for the quarter.