Rock-Tenn 2Q profit rises on acquisition, higher prices

NORCROSS, Ga.—Packaging products maker Rock-Tenn Co. said its fiscal second-quarter earnings jumped 21 percent, boosted by an acquisition and higher prices.

The company said late Monday it earned $17.1 million, or 45 cents per share, compared with $21.7 million, or 55 cents per share, in the year-ago quarter. Adjusted to exclude restructuring and other charges, the company earned 66 cents per share, compared with 57 cents per share a year earlier.

Revenue rose 17 percent to $685.9 million, from $585.7 million in the prior-year period. The company said sales were boosted by its January acquisition of Southern Container Corp., a privately held containerboard and corrugated packaging company.

Analysts expected a profit of 65 cents per share on revenue of $646.2 million, according to a poll by Thomson Financial. Analysts typically exclude one-time items.

Shares fell $1.31, or 3.6 percent, in morning trading.

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