NewPage Corporation, who owns a paper mill in Escanaba, announced their financial results for the second quarter of 2014.
According to a press release, net sales were $733 million, compared to $720 million in the second quarter of last year. They attribute the increase to higher sales volume of paper offset by lower paper prices, which has been impacted by lower industry wide demand for paper.
A net loss of $30 million was also reported this quarter, compared to a net loss of $13 million during the same quarter last year. The losses are a result of higher input costs driven by the continuing effects of extreme weather-related factors, higher cash interest and other cash charges associated with February 2014 debt refinancing.
For a full breakdown, view their release online.