Neenah Paper has reported a loss in their latest quarterly results. Consolidated sales of $206 million were reported in the first quarter of 2008, a gain of 19 percent, but operating income was off $1.5 million compared with the year ago period.

This spring, Neenah Paper put its Abercrombie Point pulp mill at Pictou, Nova Scotia up for sale, as well as its associated woodlands. Neenah Paper expects the mill to be sold within a year. In its quarterly results, Neenah Paper reported the net loss from the discontinued operations of the Pictou mill as $81 million, or $5.46 per share.

"The continued rise in costs of raw materials and energy, coupled with slowing economic growth, are clearly impacting current results," said Sean Erwin, chairman, president and chief executive officer.

Read more:
Neenah Paper Reports 2008 First Quarter Results (Neenah Paper Press Release)
Neenah puts Pictou mill up for sale (Nova Scotia Business Journal's Daily Business Buzz)
http://www.ngnews.ca/index.cfm?sid=133530&sc=49 (The News)
Neenah Paper records sales gain (Oshkosh, Northwestern)