http://www.tobacco.org/newsfeed/org/swm.rss Latest top tobacco news headlines en-us http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/07-01-2008/0004841853&EDATE= http://tobacco.org/news/268443.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) today announced changes to its Brazilian operations including the exit of the coated papers business and a resulting decrease of approximately 100 employees, or 16 percent of the current workforce, both effective immediately. This announcement will result in restructuring expenses totaling approximately $3.3 million comprised of $1.8 million in fixed asset impairment charges and $1.5 million for cash employee severance and other payments. The restructuring expenses are expected to be recognized during the second and third quarters of 2008. . . . we have decided to exit the coated papers business in Brazil and to concentrate on our core tobacco-related fine papers business. We expect that the combination of exiting the coated papers business in Brazil, in addition to the previously announced plan to raise the selling prices of tobacco-related fine papers throughout the North, Central and South American markets, will restore a modest level of profitability in our Brazilian business by early 2009. PR Newswire Brazil Tue, 01 Jul 2008 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/06-13-2008/0004831992&EDATE= http://tobacco.org/news/267236.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) today announced price increases for paper products sold in North, Central and South America effective in July 2008. These price increases are necessary to partially recover significant acceleration in costs caused by the combination of higher purchase prices for wood pulp, energy, chemicals and transportation along with the negative cost impact of currency. The announced selling price increases will approach 20 percent. PR Newswire Fri, 13 Jun 2008 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/05-08-2008/0004809128&EDATE= http://tobacco.org/news/264974.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) today reported a first quarter 2008 net loss of $1.2 million compared with net income of $4.2 million during the first quarter of 2007. The diluted loss per share was $0.08 compared with diluted earnings per share of $0.27 in the prior-year quarter. Restructuring expenses decreased earnings per share during the first quarters of 2008 and 2007 by $0.09 and $0.11, respectively. Excluding restructuring expenses, earnings per share of $0.01 for the first quarter of 2008 declined relative to diluted earnings per share of $0.38 for the first quarter of 2007. Wayne H. Deitrich, Chairman of the Board and Chief Executive Officer, commented that, "The first quarter 2008 financial results for Schweitzer-Mauduit were disappointing. Although we expected the first quarter of 2008 to be the lowest earnings quarter of the year, results were more severely impacted than expected by significant inflationary cost increases, especially energy, combined with a longer than planned start-up of a rebuilt paper machine in France and unfavorable currency impacts. We realized increased earnings from higher sales volumes of reconstituted tobacco leaf products and cigarette paper used in lower ignition propensity, or LIP, cigarettes, but this was not enough to offset negative changes in our business. During the first quarter, we completed the 35 million euro acquisition of the 28 percent minority share in our reconstituted tobacco leaf business in France. PR Newswire Thu, 08 May 2008 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-22-2008/0004797416&EDATE= http://tobacco.org/news/263989.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) will issue a press release announcing the Company's first quarter 2008 results prior to the market opening on May 8, 2008. In conjunction with the earnings release, you are invited to listen to the Company's conference call that will be broadcast live over the Internet. PR Newswire webmaster@vdat.com (SOURCE Schweitzer-Mauduit International, Inc.) Tue, 22 Apr 2008 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-17-2008/0004794750&EDATE= http://tobacco.org/news/263765.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) today indicated that net income per share, excluding restructuring expenses, for the first quarter of 2008 will likely be in the range of a net loss of $0.03 to net income of $0.03 compared with first quarter 2007 net income per share of $0.38, excluding restructuring expenses. The decline in net income per share is attributable to a longer than expected start-up of a rebuilt paper machine at SWM's Papeteries de Mauduit paper mill in France which caused lower unit volume and increased manufacturing costs. The earnings comparison also was negatively effected by company-wide inflationary cost increases, unfavorable currency impacts from the U.S. dollar weakening significantly versus the euro and the Brazilian real and increased interest expense from higher debt levels. PR Newswire Thu, 17 Apr 2008 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/01-31-2008/0004746711&EDATE= http://tobacco.org/news/259027.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) today reported fourth quarter 2007 net income of $2.5 million compared with a net loss of $4.4 million during the fourth quarter of 2006. The diluted earnings per share were $0.16 compared with a diluted loss per share of $0.28 in the prior-year quarter. Restructuring expenses decreased earnings per share during the fourth quarter of 2006 by $0.20. Excluding restructuring expenses, earnings per share of $0.16 for the fourth quarter of 2007 improved relative to the diluted loss per share of $0.08 for the fourth quarter of 2006. PR Newswire Thu, 31 Jan 2008 05:00:00 GMT http://money.cnn.com/news/newsfeeds/articles/apwire/2c4b8176a6dea3ccfeb2dc06dfeeb4e6.htm http://tobacco.org/news/256972.html Schweitzer-Mauduit International Inc. which makes paper used to roll cigarettes, said Friday two of its affiliates will acquire the remaining minority stake of LTR Industries SA for 35 million euros ($50.3 million), giving the company's affiliates a 100 percent stake in the company. LTR Industries SA is Schweitzer-Mauduit's reconstituted tobacco leaf business in France. The 28 percent interest Schweitzer-Mauduit affiliates are acquiring is now owned by a subsidiary of Spanish tobacco company Altadis SA. AP France Fri, 21 Dec 2007 05:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/10-25-2007/0004689996&EDATE= http://tobacco.org/news/255025.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) today reported a third quarter 2007 net loss of $4.3 million, which included $18.2 million in pre-tax restructuring expenses, compared with a net loss of $1.7 million during the third quarter of 2006. The diluted loss per share was $0.27 compared with a diluted loss per share of $0.11 in the prior-year quarter. Restructuring expenses reduced third quarter earnings per share by $0.73 in 2007 and $0.52 in 2006. Excluding restructuring expenses, earnings per share for the third quarter of 2007 and 2006 would have been $0.46 and $0.41, respectively. Wayne H. Deitrich, Chairman of the Board and Chief Executive Officer, commented that, "Schweitzer-Mauduit's net loss for the third quarter of 2007 primarily reflected increased expenses associated with restructuring activities in the United States, France and Brazil. Excluding restructuring expenses from both 2007 and 2006, earnings improved during the third quarter of 2007 over the prior-year period, with operating profit increasing 58 percent. This stemmed from increased demand and higher production capacity utilization for reconstituted tobacco leaf products. Also, sales volume growth and improved manufacturing costs were achieved for lower ignition propensity-related cigarette papers. PR Newswire Thu, 25 Oct 2007 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/07-26-2007/0004633146&EDATE= http://tobacco.org/news/250452.html Wayne H. Deitrich, Chairman of the Board and Chief Executive Officer, commented that, "Schweitzer-Mauduit's net income for the second quarter of 2007 improved over the prior year due to increased earnings in reconstituted tobacco products and cigarette paper used in lower ignition propensity cigarettes. Increased demand and higher production capacity utilization were experienced in reconstituted tobacco leaf products while sales volume growth and improved manufacturing costs were achieved for lower ignition propensity- related cigarette papers. Despite these achievements, we did not sustain the rate of year-over-year earnings improvement seen in the first quarter of 2007 because our traditional tobacco-related papers business experienced greater earnings weakness during the second quarter. This was caused by continuing cost inflation, the unfavorable impact on earnings from reduced volumes, and further strengthening of the Brazilian real. We again realized significant savings during the second quarter from cost reduction activities across our business, but not at the same level as during the first quarter of the year." PR Newswire Thu, 26 Jul 2007 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-27-2007/0004575502&EDATE= http://tobacco.org/news/246220.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) held its annual meeting of stockholders on April 26, 2007 and announced a quarterly dividend of fifteen cents ($.15) per share. The Board of Directors declared the dividend payable on June 11, 2007 to stockholders of record on May 14, 2007. PR Newswire Fri, 27 Apr 2007 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-26-2007/0004574416&EDATE= http://tobacco.org/news/245944.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) today reported a first quarter 2007 net income of $4.2 million compared with net income of $4.6 million during the first quarter of 2006. The first quarter of 2007 and 2006 included pre-tax restructuring expenses of $2.7 million and $0.5 million, respectively. The diluted earnings per share were $0.27 compared with diluted earnings per share of $0.30 in the prior-year quarter, a decrease of 10 percent. The restructuring expenses reduced first quarter 2007 and 2006 earnings per share by $0.11 and $0.02, respectively. The diluted earnings per share excluding restructuring expenses would have been $0.38 for the first quarter of 2007 and $0.32 for the first quarter of 2006, an increase of 19 percent. Wayne H. Deitrich, Chairman of the Board and Chief Executive Officer, commented that, "Schweitzer-Mauduit experienced improvement during the first quarter of 2007 in several areas of our business. Less production downtime occurred in our French reconstituted tobacco leaf business, we realized improved results from the production and sale of cigarette paper used in lower ignition propensity cigarettes, average selling prices increased somewhat and progress was made with the restructuring activities initiated in 2006. "We are encouraged by the first quarter results which benefited from the implementation of our business plans. We remain committed to our previously announced strategies for restructuring our French and U.S. businesses to better balance capacity to available demand. An accelerating pace of sales growth is expected for cigarette paper used in lower ignition propensity cigarettes and increased demand has been experienced for reconstituted tobacco leaf products. Additional progress is anticipated in cost reduction activities underway across our business units and the benefits from these actions are expected to further offset the continuing, but reduced, unfavorable impacts of lower production volumes and inflationary cost increases that have been experienced during the last several years." PR Newswire Thu, 26 Apr 2007 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-24-2007/0004573021&EDATE= http://tobacco.org/news/245865.html What: Schweitzer-Mauduit International, Inc.'s First Quarter 2007 Conference Call When: Thursday, April 26, 2007 @ 3:30 p.m. Eastern Where: http://www.videonewswire.com/event.asp?id=38859 PR Newswire curtis.davison@swm-us.com (SOURCE Schweitzer-Mauduit International, Inc.) Tue, 24 Apr 2007 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-25-2007/0004573356&EDATE= http://tobacco.org/news/245855.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) today announced a restatement of its consolidated financial statements to correct a recently determined accounting error, which originated in 2003, by recognizing the impact of a French income tax assessment on statutory profit sharing liabilities owed to certain French employees. Under applicable French social law, statutory profit sharing should be recalculated whenever taxable income is adjusted due to a tax audit assessment. In this instance, an audit assessment increased statutory taxable earnings, thereby increasing the amount due under the statutory profit sharing regime. However, the Company had not previously recorded the increased profit sharing liability resulting from the French income tax assessment in its 2003 financial statements. PR Newswire France Usa Wed, 25 Apr 2007 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/01-25-2007/0004512900&EDATE= http://tobacco.org/news/241316.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) today reported a fourth quarter 2006 net loss of $4.4 million, which included $4.8 million in pre-tax restructuring expenses, compared with net income of $2.8 million during the fourth quarter of 2005. The diluted loss per share was $0.28 compared with diluted earnings per share of $0.19 in the prior-year quarter. The fourth quarter 2006 restructuring expenses reduced earnings per share by $0.20. The diluted loss per share excluding restructuring expenses would have been $0.08 for the quarter. Wayne H. Deitrich, Chairman of the Board and Chief Executive Officer, commented that, "Schweitzer-Mauduit's net loss for the fourth quarter of 2006 was primarily the result of two items. As planned, we chose to incur additional and costly machine downtime across all our French mills in order to return inventories to more normal levels. We accomplished the inventory reductions, but at a significant expense. Also, we realized additional restructuring expenses in our French and U.S. business units. Continued performance improvement in our U.S. operations partially mitigated these two negative factors. PR Newswire Thu, 25 Jan 2007 05:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/01-22-2007/0004509916&EDATE= http://tobacco.org/news/240837.html Schweitzer-Mauduit International, Inc. (NYSE: SWM) announces the following Webcast: What: Schweitzer-Mauduit International, Inc.'s Fourth Quarter 2006 Conference Call When: Thursday, January 25, 2007 @ 10:30 a.m. Eastern PR Newswire curtis.davison@swm-us.com (SOURCE Schweitzer-Mauduit International, Inc.) Mon, 22 Jan 2007 05:00:00 GMT