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PCA reports rise in Q3 2012 net income

Containerboard and corrugated packaging products producer Packaging Corporation of America (PCA) has reported a rise in net income for the third quarter of 2012 at $53m compared to $43m in third quarter of 2011.

Net sales during the period stood at $723m, an increase by 8% compared to the third quarter of 2011, and year-to-date net sales increased by 7% to $2.1b, against 2011 figure.

According to the company, corrugated products shipments per workday rose by 5.7%, including 3.1% from acquisitions and increased by 4% in total with one less shipping day in 2012.

PCA chief executive officer Mark Kowlzan said the company executed a $50 per ton domestic containerboard price increase and is in the process of implementing a corresponding price increase for corrugated products, expected to complete in the fourth quarter of 2012.

"We expect higher earnings from our announced price increases, but an entire quarter’s earnings benefit from these price increases will not be fully realized until the first quarter of 2013," Kowlzan said.