International Paper Q1 Profit Retreats

(RTTNews) - International Paper (IP) released earnings for first quarter that decreased from the same period last year

The company's earnings totaled $172 million, or $0.49 per share. This compares with $360 million, or $0.95 per share, in last year's first quarter.

Excluding items, International Paper reported adjusted earnings of $185 million or $0.53 per share for the period.

The company's revenue for the quarter fell 4.2% to $5.02 billion from $5.24 billion last year.

International Paper earnings at a glance (GAAP) :

-Earnings (Q1): $172 Mln. vs. $360 Mln. last year. -EPS (Q1): $0.49 vs. $0.95 last year. -Revenue (Q1): $5.02 Bln vs. $5.24 Bln last year.