MeadWestvaco Q3 Profit Rises - Quick Facts

(RTTNews) - MeadWestvaco Corp.(MWV), Tuesday reported an increase in net income for the third-quarter, reflecting higher revenues. However, adjusted earnings per share missed the Street estimates. Looking forward, the company said that it expects fourth-quarter earnings to be significantly above the year-ago levels on a continuing operations basis.

Net income attributable to the company was $80 million or $0.44 per share, compared with $51 million or $0.28 per share last year. The company said that the last year results included a loss from discontinued operations of $0.10 per share.

Excluding special items, adjusted income from continuing operations attributable to the company was $88 million or $0.49 per share.

On average, twelve analysts polled by Thomson Reuters expected the company to report earnings per share of $0.52 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the three-month period was $1.43 billion, up from prior year's $1.3 billion. Analysts expected the company to generate revenues of $1.46 billion.