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Buckeye Rolls Out 2Q FY 2010 Results

January 1, 2010

Buckeye Technologies announced second quarter net income of $46.3 million. Second quarter earnings included net income of $37.5 million, from alternative fuel mixture credits earned during the quarter.

Net sales were $183 million for the second quarter of fiscal 2010 compared to $185 million in the second quarter of fiscal 2009.

In the Nonwovens segment, sales for the three months ended December 31, 2009 were $60 million compared to $57 million for the same period in 2008.

Chairman and CEO John Crowe said, “We are encouraged by the improving trends in our business, as evidenced by the strong rebound in earnings versus the first quarter and our first year over year gains since the July-September quarter of 2008. We are benefitting from improved demand, a better mix, rising fluff pulp prices and lower interest expense.”
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