Flat Q2 at IP

 

26 July 2005 – Stamford (CT): International Paper (IP) has posted a flat Q2, with net earnings the same as Q1 at $77 million, or EPS of $0.16, but down from $193 million in Q2 2004.

 

Operating profits for the quarter came in at $501 million, down from $551 in Q1 due to lower volumes in packaging and printing papers, higher input costs and charges of $31 million accrued from organisational restructuring.

 

Net sales were $6.5 billion compared to $6.2 billion last year.