G-P, Sonoco, K-C Report Strong Sales Figures

Georgia-Pacific

Georgia-Pacific reported net income of $175 million for the three months ended Jan. 1, 2000, compared with net income of $26 million for the 1998 fourth quarter.

Georgia-Pacific Group's net income for the full year 1999 was $716 million versus net income of $98 million a year ago. The full-year net income results for 1999 were the second highest in the company's history.

Within Georgia-Pacific Group's pulp and paper businesses, the containerboard and packaging segment reported record fourth quarter 1999 operating profits of $135 million, compared with operating profits of $9 million a year ago. The group's pulp and paper segment, comprised of its pulp, bleached board, communication papers and tissue businesses, reported operating profits of $132 million versus a $10 million loss in the same quarter last year.

For the full year 1999, Georgia-Pacific Group's containerboard and packaging segment reported operating profits of $344 million, compared with operating profits of $106 million in 1998. Its pulp and paper segment recorded operating profits of $266 million in 1999 versus $133 million in 1998.

Georgia-Pacific Group's total sales in 1999 were $17.8 billion, compared with $13.2 billion in 1998. The group generated cash from operations of approximately $1.2 billion and made capital expenditures for plant, property and equipment of $721 million for the year. In addition, it paid approximately $1.7 billion for acquisitions in 1999.

Sonoco Products

Sonoco Products reported sales for the fourth quarter of 1999 were $754.5 million, up 21.1% over $623.2 million in the same period last year, excluding sales from businesses divested in 1998. This year's fourth quarter sales included approximately $50 million from 1999 acquisitions. Last year's fourth quarter included $16.8 million in sales from divested units or operations contributed to joint ventures. Net income for 1999's fourth quarter was $51.2 million, a 13% increase over $45.3 million in the same period of 1998, excluding $13.5 million of one-time transactions in the same quarter of 1998. One-time transactions in 1999 include the first quarter gain of $3.5 million (pre and after-tax) from the sale of the company's labels business in the United Kingdom. One-time transactions in 1998 include a net gain on divestiture of businesses totaling $100.4 million pre-tax ($41.6 million after-tax). $15.0 million of this gain was for the sale of the intermediate bulk operation which occurred in the fourth quarter of 1998. One-time transactions during 1998 also included an extraordinary loss of $11.8 million (net of a $7.5 million income tax benefit) from the early extinguishment of debt, recorded in the second quarter, and one-time charges during the fourth quarter of $41.3 million pre-tax ($28.5 million after tax).

For the full year 1999 sales were $2.54 billion, a 7.4% increase over $2.36 billion in 1998. On a comparable basis, net income for 1999 was $184.3 million, a 3.0% increase over $178.9 million in 1998. Including one-time transactions, reported net income for 1999 was $187.8 million, compared with $180.2 million in 1998.

Kimberly-Clark Corp.

Kimberly-Clark Corp. reported fourth quarter sales of $3.4 billion, an increase of 10.2 percent from figures the same time the previous year.

The record operating results were driven primarily by strong performance of the company's global personal care business, with continued improvement in Europe, and by higher earnings in Mexico. Additionally, tissue earnings increased despite investments to support growth initiatives for consumer bathroom tissue and paper towels in North America and higher raw materials costs. Sales improved in each of the company's core businesses -- tissue (7 percent), personal care (12 percent) and health care (26 percent). New and improved products and business expansion were primarily responsible for the growth in sales.

For the full year of 1999, sales of $13.0 billion were up 5.8 percent from $12.3 billion last year. Excluding the sales of divested businesses, however, sales were about 8 percent higher. Operating profit was $2,435.4 million in 1999 versus $1,697.7 million in 1998. However, before restructuring and other unusual items, operating profit for the year increased 18.2 percent to $2,338.1 million from $1,977.8 million in 1998.