NewPage narrows Q1 net loss to US$11M from US$123M in year-ago period with lower reorganization items, interest expense; net sales down 0.5% to US$756M with higher sales volume, improved product mix offset by lower average paper prices

Kendall Sinclair

MIAMISBURG, Ohio , May 10, 2013 (press release) – • Net sales were $756 million in the first quarter of 2013 compared to $760 million in the first quarter of 2012.
• Higher sales volume and improved product mix were more than offset by lower average paper prices in the first quarter of 2013 compared to the first quarter of 2012.
• Average paper prices were $887 per ton in the first quarter of 2013 compared to $906 per ton in the first quarter of 2012.
• Paper sales volume increased to 826,000 tons in the first quarter of 2013 compared to 821,000 tons in the first quarter of 2012.
• Net loss was $11 million in the first quarter of 2013 compared to a net loss of $123 million in the first quarter of 2012. The improvement was the result of cost reduction initiatives, as well as lower reorganization items and lower interest expense due to the elimination of our pre-petition debt upon our emergence from bankruptcy proceedings.
• Adjusted EBITDA was $61 million in the first quarter of 2013 compared to $66 million in the first quarter of 2012.
• As of March 31, 2013, NewPage had $271 million of total liquidity including cash and cash equivalents, as well as availability on the revolving credit facility.

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