WAUSAU·MOSINEE EXPECTS FIRST QUARTER EARNINGS TO BE BELOW CONSENSUS
Press release from the issuing company
Mosinee, WI…March 28, 2001…Wausau·Mosinee Paper Corporation (NYSE:WMO) today announced that it expects to report first quarter 2001 earnings modestly below the current analyst consensus of a loss of $.02 per share.
The major factors negatively affecting first quarter results include weak demand and high energy costs, with the growing economic slowdown impacting the company's printing and writing and specialty paper businesses.
Because of these factors, the company anticipates first quarter earnings will be a loss in the range of $.05 to $.07 per share before charges or credits for stock incentive programs.
Wausau·Mosinee's President and Chief Executive Officer, Thomas J. Howatt, stated, "With the exception of our tissue segment, weak market conditions have substantially impacted volume, dictating market-related downtime at select mills to control inventories. While we are faced with difficult economic conditions, pulp and energy costs are trending favorably for us, and our internal initiatives to improve operating efficiencies, reduce costs and control working capital are paying dividends."
Wausau·Mosinee Paper Corporation is a major producer of fine printing and writing papers and technical specialty papers. The company also produces and markets "away-from-home" towel and tissue products.
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