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KapStone reports increase in Q2 2012 consolidated revenue

KapStone Paper and Packaging has reported a 42.6% increase in consolidated revenue of $306.3m in the second quarter of 2012, an increase from $214.8m in the same period of 2011.

The increase is primarily due to the acquisition of USC, which added $97.2m of additional revenue based on selling 1.6 billion square feet of corrugated products compared to none in 2011.

During the quarter, 324,000t of paper was sold, up from 329,000t in 2011and due to lower export containerboard prices, which have been recovering since bottoming out in March 2012, the company’s average selling price decreased by $10.

The company’s operating income of $32.5m increased by $1.8m, or 6%, compared to the 2011 second quarter and capital expenditures for the quarter touched $16.5m.