IP issues earnings warning

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28 June 2005 – Stamford (CT): International Paper (IP) has warned that Q2 earnings will fall short of expectations due to overestimated paper and industrial-packaging sales volume.

IP now envisages Q2 income of between $0.25 and $0.30 per share, significantly lower than Thomson Financial’s estimate of $0.38 per share and the company’s earnings of $0.41 per share in the same period, a year earlier.