Orient Paper (AMEX:ONP), a diversified paper products manufacturer and distributor in China, announced preliminary results for the second quarter. Orient said revenue is expected to be up nearly 71% year over year, and earnings are expected to come in at 28 cents per diluated share, up from 20 cents in the same quarter last year. Orient said results were helped by a general increase in paper and pulp pricing in the market during the second quarter. Orient will report its full financial results next month. Shares of Orient Paper were trading about 8% higher midday Thursday.
And Spokane, Washington based Clearwater Paper Corporation (NYSE:CLW) posted a second quarter profit of a dollar 75 per share, with net sales up more than 4% year over year. The company said customer demand was strong for both the consumer products category and for the pulp and paperboard category. That strong demand led Clearwater to break ground in early July on its new converting facility in North Carolina. In midday trading Thursday, Clearwater shares were trading more than 8 and a half percent higher.
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