Tough quarter for Schweitzer-Mauduit

Source from:  tobaccojournal.com May 8, 2008 05/09/2008

Schweitzer-Mauduit International reported a first quarter 2008 net loss of $1.2 million compared with net income of $4.2 million during the first quarter of 2007. "The first quarter 2008 financial results for Schweitzer-Mauduit were disappointing,” said Wayne H. Deitrich, chairman of the board and CEO. "Although we expected the first quarter of 2008 to be the lowest earnings quarter of the year, results were more severely impacted than expected by significant inflationary cost increases, especially energy, combined with a longer-than-planned start-up of a rebuilt paper machine in France and unfavorable currency impacts,” Deitrich said. Enditem