Gaylord Container Corp. reported net income of $1.6 million for the first quarter of fiscal 2001 ended December 31, 2000. This compares to net income of $0.9 million in the first quarter of fiscal 2000.
Net sales increased to $295.1 million in the first quarter of fiscal 2001, compared to $279.6 million in the year-earlier period. The company reported operating income of $24.2 million in the first quarter compared to operating income of $22.9 million in the year-ago first quarter.
During the first quarter of fiscal 2001, Gaylord's average selling prices for linerboard and corrugated products were essentially unchanged from the fourth quarter of fiscal 2000.
Production of containerboard decreased to 315,000 tons for the first quarter compared to 332,000 tons the first quarter last year. Unbleached kraft paper production decreased to 67,000 tons versus 72,000 tons for the same quarter in fiscal 2000. Corrugated shipments for first quarter fiscal 2001 increased to 3.9 billion square feet, or 2.6 percent, from 3.8 billion square feet during the year-ago quarter.
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