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Article: Scott Paper Co. reports earnings and sales for 1986.
- Article from:
- PR Newswire
- Article date:
- January 29, 1987
CopyrightCOPYRIGHT 1987 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PHILADELPHIA, Jan. 29 /PRNewswire/ -- Scott Paper Co. today reported its 1986 primary earnings per share were a record $4.96 compared with $4.52 a year ago, a 10 percent increase.
Sales for the year grew 13 percent to a record $3.4 billion from $3 billion in 1985, while income from operations increased 24 percent to a record $368.4 million. These records occurred despite the $.55 per share negative impact from a previously reported nine-week strike at the company's Mobile, Ala., facility and retroactive provisions in the Tax Reform Act of 1986 which increased Scott's 1986 tax expense in the fourth quarter by $.38 per share. Net income for the year declined to ...