Packaging Corporation of America Reports Q4 EPS $.54 vs. $.53

Packaging Corporation of America PKG today reported fourth quarter 2010 net income of $55 million, or $0.54 per share. Reported results include a $5 million, or $0.05 per share, addition to income from cellulosic bio-fuel tax credits generated in 2009, and after-tax, non-cash charges totaling $3 million, or $0.03 per share, from asset disposals related to major energy projects and other assets no longer in service. Reported results for the fourth quarter of 2009 were $59 million, or $0.57 per share, which included income of $44 million, or $0.42 per share, from alternative fuel mixture tax credits and energy project asset disposal charges of $1 million, or $0.01 per share. Net sales in the fourth quarter were a record $627 million, up 18% compared to fourth quarter 2009 net sales of $532 million.