Buckeye Technologies reported second quarter sales were up 8% to $227 million thanks to higher selling prices and increased specialty wood fibers shipments. Nonwovens shipment volume was down 10% due to seasonal weakness in Europe and lower North American volumes.
“We were pleased with our second quarter fiscal 2012 financial results, which exceeded the expectations we shared during our last earnings call in October. The key drivers of year over year improvements continue to be strong markets and selling prices, better capacity utilization at our Memphis specialty cotton fibers plant and benefits from our cost improvement initiatives,” says chairman and CEO John Crowe.
Nonwovens sales clocked in at $58 million down from $64 million the prior year. At the same time, operating income was $2.7 million, up from $2.3 million the prior year.