Buckeye Technologies Falls on Q2 Results

Late in Wednesday's trading session, shares of Buckeye Technologies

were trading lower after the company released its second-quarter earnings results on Tuesday. At last check, the stock was down around 7 percent to $28.73. Over the last 52-weeks, the stock has lost a little better than 14 percent. Buckeye reported net income for the second-quarter of $12.9 million or $0.33 per share, compared to a loss of $5.4 million or $0.14 per share, last year. Adjusted net income in the quarter fell to $23.6 million or $0.60 per share, from $27.9 million or $0.69 per share, in the year ago period. This missed analysts' consensus EPS estimates of $0.69. Net sales in the quarter grew to $204.3 million from $197.0 million last year. This came in slightly ahead of Wall Street consensus revenue expectations of $204.17 million.