Wausau Paper shipping policies and procedures provide customers of our Bay West brand products with the best delivery service possible. We offer the flexibility of full truckload and half truckload orders as well as drop shipments. Please review the guidelines below for more details.
All orders are subject to mill acceptance. Dispensing equipment may be purchased separately or in conjunction with paper products. Prices are subject to change without notice. Distributors shall be responsible for payment and reporting of any sales, use taxes, or other charges imposed by any government authority in the state in which they operate.
TRUCKLOAD DEFINITIONS:
When ordering, use unit and layer configurations as defined below to best determine what will fit in a truck.
Orders are shipped on 53’ trailers and will accommodate 23 to 30 units depending upon the product mix.
A Unit is layers of cases stacked to a height from 87” to 100” (floor to ceiling trailer space) and fully shrink wrapped to lessen product damage in shipping and handling. Units may or may not be palletized. A Layer is used to configure a unit. When ordering in unit multiples is inconvenient, then layers must be used to assure best fit in the trailer. Cases per layer can be found on our website in the Product Catalog section and in the Products-at-a-Glance downloadable PDF file in Resources & Ideas section.
Cut and Fill Items are required on every truck order. These items must be a product listed on the purchase order.
• All half-truckload orders will be accessed a $100.00 stop-off charge.
• All truckload orders with an additional stop to a single customer (i.e. customer warehouse) will be accessed a $150.00 stop-off charge.
PALLET SIZES AVAILABLE:
40” x 48” Unload with hand jack. 2-way pallet.
48” x 40” Unload with fork lift. 4–way pallet.
53” x 45” Bulk tissue; pallet reduces overhang damage
If pallets are desired, there is a $7.00 per pallet charge. Slip sheets have a charge of $2.50 per slip sheet.
DROP SHIPMENTS TO END USERS:
Distributors may ship 200-case minimum orders directly to end users for an additional charge of $100.00, under the following conditions:
1. The drop shipment must be within the distributor’s trading zone.
2. The drop shipment must be within a 50-mile radius of the distributor.
3. The distributor must fill the balance of the trailer.
If a drop shipment is to be palletized or slip-sheeted, please notify Wausau Paper at the time of order. Routine charges will be applied.
MOSINEE, Wis.--(BUSINESS WIRE)--April 24, 2007--Wausau Paper
(NYSE:WPP) today reported net earnings for the first quarter of $15.0
million, or $0.29 per share, compared with a net loss of $0.5 million,
or $0.01 per share, in the previous year. Net sales rose 6 percent to
a record first-quarter $299.4 million, and shipments increased 1
percent to a record 227,000 tons.
Included in current-year results were one-time state tax benefits
of $12.0 million, or $0.24 per share, related to the January 1, 2007,
restructuring of the company's subsidiaries to realign them more
closely with Wausau Paper's current operating structure. The
subsidiary realignment allows for the utilization of previously
reserved state net operating loss and credit carryovers.
First-quarter results also included an after-tax gain of $0.4
million, or $0.01 per share, from the sale of timberlands and stock
incentive credits of less than $0.01 per share. Prior-year
first-quarter results included after-tax timberland sales gains of
$1.0 million, or $0.02 per share, and stock incentive charges of $1.2
million, or $0.02 per share, including a cumulative effect charge of
$0.4 million, or $0.01 per share, related to the adoption of Statement
of Financial Accounting Standards No. 123 (revised 2004), Share-Based
Payments.
"Record shipments and net sales, coupled with relentless efforts
to improve operations in the face of historically high energy and
rising fiber costs, produced solid gains in the first quarter compared
with a year ago," said Thomas J. Howatt, president and CEO.
"Importantly, our growth continues to be driven by our core business
strategies - pursuit of niche markets, product innovation, benchmark
customer service and operating excellence. Innovative product
solutions - such as the recent expansion of our ExperTec(R),
EcoSelect(TM), and ProGard(R) lines of specialty products - have
enabled us to consistently exceed our new product goals, increase
sales in targeted niche markets and improve customer service by
recognizing market trends and meeting specific product needs,"
continued Mr. Howatt. "During the first quarter, nearly 30 percent of
net sales came from products developed in the last three years,
eclipsing our goal of 25 percent, while at the same time paper mill
productivity gains again exceeded our corporate target of 1 percent."
Specialty Products reported first-quarter operating profits of
$2.7 million compared with $3.2 million last year, with the decrease
primarily attributable to cost pressures, most notably market pulp.
Net sales increased 2 percent while shipments declined 2 percent.
"First-quarter profits improved substantially from the breakeven
result reported in the fourth quarter and represent Specialty's best
performance since last year's first quarter," Mr. Howatt stated.
"Despite competitive market conditions we were successful in expanding
our line of environmentally preferable products, allowing us to
further penetrate attractive niche markets. At the same time, strong
operations and cost containment activities have allowed us to
partially offset continuing cost pressures."
Printing & Writing reported first-quarter operating losses of $1.8
million compared with losses of $6.8 million last year. Net sales and
shipments increased 7 percent and 3 percent, respectively. "In
contrast, the industry's uncoated freesheet shipments declined
approximately 6 percent in the same period, a clear indicator that we
are gaining market share," commented Mr. Howatt. "Moreover, industry
consolidation and capacity closures are beginning to create pricing
momentum in printing and writing grades. Year-over-year comparisons
also reflect the enhanced productivity we've achieved as well as the
reduction of market-related downtime taken in the first quarter of
2006."
Towel & Tissue operating profits reached record first-quarter
levels of $9.7 million compared with operating profits of $9.2 million
last year. Net sales and shipments increased 11 percent and 6 percent,
respectively. Mr. Howatt commented, "Selling price increases, mix
improvements and volume gains offset increased wastepaper costs and
helped drive a ninth consecutive quarterly profit record. Despite
'away-from-home' market growth of less than 2 percent, our Green
Seal(R) certified and value-added product shipments each increased
more than 20 percent. This above-market growth continues to be driven
by strong placements of our innovative proprietary dispensers and the
introduction of new products."
Discussing the second-quarter outlook, Mr. Howatt said, "Energy
costs remain at historically high levels while fiber costs continue
their upward trend. At the same time, we are encouraged by signs of
returning pricing leverage in many of our product areas. The initial
influence of pricing leverage, and efforts to contain costs and
improve efficiency are expected to drive profit improvement compared
with year-ago levels. As a result, we expect second-quarter earnings
in the range of $0.08 and $0.10 per share, including timberland sales
gains of $0.02 per share." Second-quarter 2006 results were $0.07 per
share and included $0.02 per share in timberland sales gains.
Wausau Paper's first-quarter conference call is scheduled for
11:00 a.m. (EDT) on Wednesday, April 25, and can be accessed through
the company's Web site at www.wausaupaper.com under "Investor
Information." A replay of the webcast will be available at the same
site through May 2.
Wausau Paper, with record revenues of $1.2 billion in fiscal 2006,
produces fine printing and writing papers, technical specialty papers,
and "away-from-home" towel and tissue products. Green Seal(R) is a
registered trademark of Green Seal, Inc., in Washington D.C., and is
used by permission. To learn more about Wausau Paper visit:
www.wausaupaper.com.
Safe Harbor under the Private Securities Litigation Reform Act of
1995: The matters discussed in this news release concerning the
company's future performance or anticipated financial results are
forward-looking statements and are made pursuant to the safe harbor
provisions of the Securities Reform Act of 1995. Such statements
involve risks and uncertainties which may cause results to differ
materially from those set forth in these statements. Among other
things, these risks and uncertainties include the strength of the
economy and demand for paper products, increases in raw material and
energy prices, manufacturing problems at company facilities, and other
risks and assumptions described under "Information Concerning
Forward-Looking Statements" in Item 7 and in Item 1A of the company's
Form 10-K for the year ended December 31, 2006. The company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events.
Wausau Paper
Interim Report - Quarter Ended March 31, 2007
(in thousands, except per share amounts)
Condensed Consolidated Statements Three Months
of Operations (unaudited) Ended March 31,
-------------------------
2007 2006
------------ ------------
Net sales $299,393 $283,663
Cost of sales 271,307 260,057
------------ ------------
Gross profit 28,086 23,606
Selling & administrative expenses 20,802 20,976
Restructuring - 132
------------ ------------
Operating profit 7,284 2,498
Interest expense (2,807) (2,713)
Other income, net 206 42
------------ ------------
Earnings (loss) before income taxes and
cumulative effect of a change in accounting
principle 4,683 (173)
Credit for income taxes (10,282) (64)
------------ ------------
Earnings (loss) before cumulative effect of
a change in accounting principle 14,965 (109)
Cumulative effect of a change in accounting
principle (net of income taxes) - (427)
------------ ------------
Net earnings (loss) $14,965 $(536)
============ ============
Earnings (loss) per share before cumulative
effect of a change in accounting principle
(basic and diluted) $0.29 $0.00
Cumulative effect of a change in accounting
principle (net of income taxes) 0.00 (0.01)
------------ ------------
Net earnings (loss) per share (basic and
diluted) $0.29 $(0.01)
============ ============
Weighted average shares outstanding-basic 50,746 51,041
============ ============
Weighted average shares outstanding-diluted 51,100 51,041
============ ============
Condensed Consolidated Balance Sheets (Note
1) March 31, December 31,
2007 2006
------------ ------------
Current assets $298,190 $294,247
Property, plant & equipment, net 462,793 468,372
Other assets 37,680 36,495
------------ ------------
Total Assets $798,663 $799,114
============ ============
Current liabilities $146,739 $155,182
Long-term debt 166,555 160,287
Other liabilities 194,284 209,571
Stockholders' equity 291,085 274,074
------------ ------------
Total Liabilities and Stockholders'
Equity $798,663 $799,114
============ ============
Condensed Consolidated Statements Three Months
of Cash Flow (unaudited) Ended March 31,
-------------------------
2007 2006
------------ ------------
Net cash used in operating activities $(6,355) $(10,409)
------------ ------------
Cash flows from investing activities:
Capital expenditures (5,986) (4,912)
Proceeds from property, plant and
equipment disposals 893 1,655
------------ ------------
Net cash used in investing activities (5,093) (3,257)
------------ ------------
Cash flows from financing activities:
Net issuances of commercial paper 6,500 9,500
Payments under capital lease obligation
and note payable (64) (35)
Dividends paid (4,313) (4,340)
Proceeds from stock option exercises 0 1,405
Excess tax benefits related to stock
options 35 94
Payments for purchase of company stock 0 (967)
------------ ------------
Cash provided by financing activities 2,158 5,657
------------ ------------
Net decrease in cash & cash equivalents $(9,290) $(8,009)
============ ============
Note 1. Balance sheet amounts at March 31, 2007, are unaudited. The
December 31, 2006, amounts are derived from audited financial
statements.
Note 2. Effective January 1, 2007, we adopted Financial Accounting
Standards Board ("FASB") Staff Position No. AUG AIR-1,
"Accounting for Planned Major Maintenance Activities." This
FSP prohibits companies from recognizing planned major
maintenance costs under the "accrue-in-advance" method that
allowed the accrual of a liability over several reporting
periods before the maintenance is performed. We have adopted
the direct expensing method, under which the costs of planned
major maintenance activities are expensed in the period in
which the costs are incurred. The comparative financial
statements for 2006 have been adjusted to apply the new method
retrospectively, resulting in an increase in net earnings for
the three months ended March 31, 2006, of $0.8 million, or
$0.02 per basic and diluted share, an increase in net earnings
of $0.1 million for the three months ended June 30, 2006, a
decrease in net earnings of $0.3 million, or $0.01 per basic
and diluted share for the three months ended September 30,
2006, and a decrease of $0.6 million, or $0.01 per basic and
diluted share for the three months ended December 31, 2006.
Note 3. On January 1, 2007, we adopted FASB Interpretation No. 48,
"Accounting for Income Tax Uncertainties" ("FIN 48"). FIN 48
defines the threshold for recognizing the benefits of tax
return positions in the financial statements as
"more-likely-than-not" to be sustained by the taxing
authority. The literature provides guidance on the
derecognition, measurement and classification of income tax
uncertainties, along with any related interest and penalties.
FIN 48 also includes guidance concerning accounting for income
tax uncertainties in interim periods and increases the level
of disclosures associated with any income tax uncertainties.
The adoption of FIN 48 did not have a significant impact on
our financial statements.
Note 4. Effective January 1, 2007, we reorganized the various
subsidiaries which comprised our operating segments to align
more closely with our operating structure. Each segment is
now organized as a single member limited liability company and
operates as a direct subsidiary of Wausau Paper Corp. The new
structure allowed us to utilize state net operating loss and
credit carryovers of certain subsidiaries for which full
valuation allowances had been previously established due to
the fact that separate state tax returns were filed under our
previous structure. During the three months ended March 31,
2007, we recorded state tax benefits of $12.0 million, or
$0.24 per basic and diluted share, as a result of the release
of these valuation allowances. No additional state tax
benefits resulting from the reorganization are anticipated.
Note 5. Effective January 1, 2006, we adopted Statement of Financial
Accounting Standards No. 123 (revised 2004), "Share-Based
Payment" ("SFAS 123R"), using the modified prospective
application transition method. The modified prospective
application transition method requires that as of the
effective date, compensation cost related to share-based
payment transactions is recognized as an operating expense in
the statement of operations over the requisite service period
of the grant based on the grant-date fair value of the award.
Under SFAS 123R, share-based payment awards that are settled
in cash continue to be classified as a liability; however,
rather than remeasuring the award at the intrinsic value each
reporting period, the award is remeasured at its fair value
each reporting period until final settlement. The difference
between the liability as previously computed (i.e., intrinsic
value) and the fair value of the liability award on January 1,
2006, was $0.4 million net of any related tax effects ($0.7
million pretax), and was recorded as a cumulative effect of a
change in accounting principle.
Note 6. In July 2005, we announced plans to permanently close the
sulfite pulp mill at our Brokaw, Wisconsin, facility. The pulp
mill was closed in November 2005 and the related long-lived
assets were abandoned. Pre-tax restructuring expense related
to certain assets disposed as a direct result of the closure
and other associated costs were $0.1 million for the three
months ended March 31, 2006. No restructuring expense was
incurred for the three months ended March 31, 2007.
Note 7. Interim Segment Information
We have reclassified certain prior-year interim segment
information to conform to the 2007 presentation. The
reclassifications are the result of a reporting change,
effective January 1, 2007, in accordance with FASB FSP AUG
AIR-1 (see Note 2), and as a result of restructuring the
assets, operating results, and depreciation, depletion and
amortization of one facility from the Corporate and
Unallocated segment to the Towel & Tissue segment (see Note
4).
Wausau Paper's operations are classified into three principal
reportable segments: Specialty Products, Printing & Writing,
and Towel & Tissue, each providing different products.
Separate management of each segment is required because each
business unit is subject to different marketing, production,
and technology strategies.
Specialty Products produces specialty papers at its
manufacturing facilities in Rhinelander, Wisconsin; Mosinee,
Wisconsin; and Jay, Maine. Specialty Products also includes
two converting facilities that produce laminated roll wrap and
related specialty finishing and packaging products. Printing &
Writing produces a broad line of premium printing and writing
grades at manufacturing facilities in Brokaw, Wisconsin;
Groveton, New Hampshire; and Brainerd, Minnesota. Printing &
Writing also includes a converting facility that converts
printing and writing grades. Towel & Tissue produces a
complete line of towel and tissue products that are marketed
along with soap and dispensing systems for the "away-from-home
market." Towel & Tissue operates a paper mill in Middletown,
Ohio and a converting facility in Harrodsburg, Kentucky.
Sales, operating profit, and asset information by segment is
as follows:
(in thousands, except ton data) March 31, December 31,
2007 2006
------------ ------------
Segment assets (Note 1)
Specialty Products $324,007 $319,387
Printing & Writing 245,240 243,362
Towel & Tissue 187,323 184,140
Corporate & Unallocated(a) 42,093 52,225
------------ ------------
$798,663 $799,114
============ ============
Three Months
Ended March 31,
2007 2006
------------ ------------
Net sales external customers (unaudited)
Specialty Products $123,955 $121,492
Printing & Writing 105,914 99,318
Towel & Tissue 69,524 62,853
------------ ------------
$299,393 $283,663
============ ============
Operating profit (loss) (unaudited)
Specialty Products $2,673 $3,207
Printing & Writing (1,792) (6,846)
Towel & Tissue 9,693 9,181
Corporate & Eliminations (3,290) (3,044)
------------ ------------
$7,284 $2,498
============ ============
Depreciation, depletion and amortization
(unaudited)
Specialty Products $5,661 $6,043
Printing & Writing 3,071 3,078
Towel & Tissue 5,727 5,208
Corporate & Unallocated 162 229
------------ ------------
$14,621 $14,558
============ ============
Tons sold (unaudited)
Specialty Products 99,919 102,287
Printing & Writing 86,101 83,631
Towel & Tissue 40,573 38,289
------------ ------------
226,593 224,207
============ ============
(a) Segment assets do not include intersegment accounts
receivable, cash, deferred tax assets and certain other assets which
are not identifiable with the segments.
CONTACT: Wausau Paper
Investor and Media Contact:
Perry Grueber, Director Investor Relations, 715-692-2056
Fax: 715-692-2020
SOURCE: Wausau Paper