Newspaper article THE JOURNAL RECORD

Orchids Paper Earnings Drop

Newspaper article THE JOURNAL RECORD

Orchids Paper Earnings Drop

Article excerpt

Orchids Paper Products Company reported net income for the third quarter of $2.2 million, or 21 cents per diluted share, down from $4.7 million, or 45 cents per diluted share, for the third quarter of 2015.

The Pryor-based manufacturer of tissue products for the private label consumer market reports sales for the quarter of $39.6 million, down from $46.8 million a year earlier.

Net income for the first nine months of 2016 totaled $10.2 million, up from $9.9 million for the first nine months of 2016.

Sales for the first nine months of 2016 totaled $126.8 million, up from $126.5 million a year earlier.

"Competitive pressures continued in third quarter 2016 which negatively impacted sales volume," said Jeff Schoen, president and CEO. "On a positive note, sales volume picked-up in September, and we expect sales volume to continue to increase into fourth quarter due to new distribution and recovery of private label business with existing customers. …

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