Consolidated Papers, Inc., Wisconsin Rapids, WI had first quarter 1999 earnings of $14 million, down 64% from first quarter 1998 earnings of $39 million. Consolidated’s first quarter 1999 sales totaled $459.2 million, compared with its record sales of $517 million in a year ago.
Consolidated’s primary product is coated and supercalendered printing papers for magazines, brochures, corporate annual reports, advertising inserts and catalogs. Total shipments of these papers were down 3% compared with fourth quarter 1998 and declined 6% compared with first quarter 1998.
Shipments of supercalendered printing papers decreased 12% compared with the fourth quarter of 1998 and rose 16% compared with the first quarter of 1998. The facility producing these papers operated at 100% of its available capacity, as it did in both the fourth and first quarters of 1998.
The company’s shipments of coated specialty papers, which are primarily used for packaging and labeling, increased 13% compared with fourth quarter 1998 and remained steady compared with first quarter 1998. The division producing these papers operated at 79% of available capacity, compared with 67% during the fourth quarter of 1998 and 79% in the first quarter of 1998.
In a statement, Consolidated said that it continues to be challenged by an extremely price-sensitive market that is fueled by lower-priced imports. Consolidated Papers produces coated and supercalendered printing papers for the printing and publishing industries.
