VOL. 117 | NO. 81 | Thursday, April 24, 2003
loss for quarter
Buckeye Technologies Inc. announced net sales for the
quarter ended March 31 were $163.5 million, essentially equal to the comparable
quarter of the prior year.
For the quarter, Buckeye incurred a loss of 1 cent per share
with a net loss of $400,000 after tax, excluding a previously disclosed
non-cash asset impairment charge of 52 cents per share, primarily related to
the partial closure of the Lumberton, N.C., cotton linter pulp plant. Excluding
the impairment and restructuring charges, Buckeye's after tax loss is a $3
million improvement from the loss incurred in the comparable quarter in 2002.
Buckeye, a manufacturer and marketer of specialty cellulose
and absorbent products, is headquartered in Memphis. Buckeye operates
facilities in the United States, Germany, Canada, Ireland and Brazil. Its
products are sold worldwide to makers of consumer and industrial goods.
hosts exporting seminar
In 2001, Tennessee businesses recorded $11.3 billion in
international trade. During three upcoming seminars, the International Trade
Center will delve into topics such as trade finance, pushing a business into
the export market and handling operations in international trade.
The seminars begin at 8:15 a.m. Wednesday at the Jackson
(Tenn.) Chamber of Commerce with Introduction to Exporting.
Registration is $40 per seminar.
For information, call Katie Chandler at (731) 423-2200, or
ITC at 678-4174.
Lodging industry still
struggling for business
Smith Travel Research announced first quarter results for
the U.S. lodging industry Tuesday.
Industry occupancy was 54.7 percent in the first three
months of 2003, down 1.1 percent compared to first quarter 2002. The first
quarter average room rate fell 0.5 percent to $84.72 and revenue per available
room a combination of occupancy and the average room rate and a key industry
productivity measure decreased 1.6 percent to $46.35.
Industry room supply increased 1.6 percent in the quarter,
down from 1.8 percent growth in first quarter 2002. Industry demand, or room
nights sold, increased 0.5 percent in the first quarter compared to a decrease
in demand of 3.9 percent for the same time a year ago. Room revenue for the
quarter was flat at $18.3 billion.
Ribbon cutting set
for architectural firm
A ribbon-cutting ceremony for Johnson Bailey Henderson
McNeel, Architects begins at 4 p.m. Friday at 400 S. Front St.
Founded in 1970, JBHM is one of the largest architectural
firms in Mississippi. The Memphis office is the firms first foray outside
International Paper to host
mock trial at Coleman
International Paper will celebrate
National Law Week, Monday through May 2, by planning a variety of law-related
activities for the fourth- and fifth-grade students at Coleman Elementary
School, IPs adopted school.
IPs legal department is
conducting a mock trial at 1 p.m. Tuesday in the schools gym. The cast of The
Three Bears vs. Goldilocks will consist of legal department members and a
DArmy Bailey, Circuit Court Division 8 judge, will
preside. Fourth- and fifth-grade students will act as the jury.
In the trial, Goldilocks is charged with bad manners.