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 HARTFORD, Conn. (AP) - International Paper Co., the world's largest paper company, on Thursday said it lost $77 million in the fourth quarter of 2005 as a result of unusual items that resulted in a hefty net charge against earnings.
The Stamford-based company's loss amounted to 16 cents per share for the October-December period compared with earnings of $169 million, or 35 cents per share, the previous year. Without the unusual items and discontinued operations, earnings were $58 million, or 12 cents per share.
Sales for the quarter totaled $6.13 billion, a 2 percent increase from $6.02 billion a year earlier and handily beating the consensus target of $5.88 billion, according to a survey of analysts by Thomson Financial.
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