Wednesday 14. August 2013
Buckeye Announces Fourth Quarter and Fiscal Year 2013 Results
Buckeye Technologies Inc. (NYSE:BKI) today announced earnings for fiscal year 2013. Net sales for the year were $812 million, down $82 million or 9% compared to net sales from continuing operations in fiscal 2012. Specialty Fibers external sales were down $72 million or 11% due to a small drop in shipment volume, lower fluff pulp and specialty cotton fibers pricing, and unfavorable sales mix due to weak market conditions in Europe. Nonwovens sales were down $10 million entirely due to the sale of the Merfin Systems converting business in mid-fiscal year 2012.