MeadWestvaco Q2 Profit Decreases - Quick Facts

(RTTNews) - MeadWestvaco Corporation(MWV) Tuesday reported a decrease in net earnings for the second quarter due to the previously announced outage at the company's paperboard mill in Virginia.

Net income attributable to the company for the three-month period decreased to $71 million or $0.39 per share compared with $88 million or $0.50 per share during the same quarter last year.

Adjusted income from continuing operations attributable to the company, excluding special items, was $67 million or $0.37 per share. On average, thirteen analysts polled by Thomson Reuters expected the company to report profit of $0.28 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter were $1.43 billion compared with $1.42 billion last year. Analysts expected the company to report revenues of $1.45 billion for the quarter.

In the third quarter of 2013, the company said it expects earnings to be above year-ago levels on a continuing operations basis.