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Veritiv Boosts 2nd-Quarter Sales 18%

Veritiv Corp. has reported fiscal-second-quarter net sales of US$1.7 billion, an increase of 18% year-over-year.

Veritiv reported a quarterly net income of $26.4 million, up from a net loss of $18.5 million in the prior year. Veritiv’s basic and diluted earnings per share were $1.69 and $1.62 respectively, compared to a loss for both basic and diluted earnings per share of $1.16 in the same period one year ago.

“The combination of strong packaging sales growth and operational improvements helped drive record net income and earnings per share for the second quarter,” said Sal Abbate, Veritiv CEO. “We are executing very well against our multi-year strategy and believe these initiatives have resulted in an inflection point in our overall financial results.”

About Veritiv
Sandy Springs, Georgia-based Veritiv Corp. markets and distributes facility maintenance supplies, packaging systems, and printing and business-imaging papers throughout North America. For more information, visit www.veritivcorp.com.