Memphis-based Buckeye Technologies Inc. this week announced its fourth-quarter earnings. The company’s net sales were $177 million, down from $215 million compared to the fourth quarter of fiscal year 2008.

Adjusted net income was $6.8 million compared to $9.3 million the same period last year, excluding income from alternative fuel mixture credits, according to a statement released by Buckeye.

The company reported the downturn in earnings “was driven by reduced operating income … due primarily to the economic downturn which has reduced shipment volumes and resulted in unfavorable grade mix changes in our specialty fibers segment.” The company also said the effect of the reduced operating income was partially offset by a lower effective tax rate.

Although the company reports overall selling prices were lower in the fourth quarter, that decline mostly was driven by declines in fluff pulp prices, which “was more than offset by lower input prices for raw materials, energy and transportation costs net of an increase in chemical costs.”

However, net sales rose 3.1 percent compared to the third quarter, and adjusted operating income rose 11.5 percent.

Buckeye’s total debt declined by $61.1 million to $327.5 million in the fourth quarter.