USA Paper Earnings Companies Hit Hard in 2008

Full year 2008 earnings of 18 publicly traded U.S. paper and forest companies fell 39.8% to $1.8 billion, compared to the year earlier. Sales for the full year declined 6.6% to $75.5 billion, or $4.7 billion less than sales in 2007. The 18 companies are those that report on a near-calendar fiscal year. For the fourth quarter, 17 out of 23 companies reported lower earnings year-over-year and seven reported losses.