Boise Inc. Presents at Goldman Sachs Basic Materials Conference 2013, May-22-2013 08:35 AM. Venue: Goldman Sachs Conference Center, 200 West Street, New York, New York, United States.

Boise Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company reported net loss of $1,225,000 or $0.01 diluted loss per share on sales of $607,018,000 against net income of $21,338,000 or $0.21 diluted earnings per share on sales of $644,846,000 a year ago. Income from operations was $13,072,000 and loss before income taxes was $2,661,000 against income from operations of $49,695,000 and income before income taxes of $34,531,000 a year ago. Cash provided by operations was $39,863,000 and expenditures for property and equipment was $26,610,000 against cash provided by operations of $31,479,000 and expenditures for property and equipment of $23,133,000 a year ago. EBITDA was $56,159,000 against $87,408,000 a year ago. Free cash flow was $13,253,000 against $8,346,000 a year ago. On May 2, 2013, the company announced decision to close two paper machines and an off-machine coater at paper mill in International Falls, Minnesota. These closures, which expect to occur no later than fourth quarter 2013, will reduce the company's production of white business paper by about 115,000 tons, or 9%. This decision will result in the loss of approximately 300 jobs. On May 2, 2013, the company announced decision to invest between $110 and $120 million in the conversion of idled newsprint machine at DeRidder, Louisiana, paper mill to produce lightweight linerboard and corrugating medium. The company will also install an OCC (old corrugated container) pulping facility at the mill as part of the project. The investment will add approximately 270,000 tons of lightweight containerboard capacity to system and allow to optimize the product mix on current linerboard machine, increasing the mill's overall containerboard output by approximately 300,000 tons. The company targeting a mid-2014 start-up for the completed project, which expect will create about 50 jobs. For the full year 2013, the company expects free cash flow to be positive. The company now expects to spend between $187 million and $202 million on capital expenditures in 2013 including $35 million to $40 million related to the DeRidder conversion project and $30 million to $35 million related to investments in converting operations. The company also expects the closures to improve EBITDA and cash flow in 2014 and beyond.

Boise Inc. announced that they will report Q1, 2013 results at 11:00 AM, US Eastern Standard Time on May 02, 2013