Scott Paper Co.: The Philadelphia-based paper company...
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From Times Staff and Wire Reports
Scott Paper Co.: The Philadelphia-based paper company reported a fourth-quarter loss of $51.5 million, contrasted with a profit of $71.6 million in the year-ago period. Sales rose 11% to $1.4 billion. For the year, profit totaled $148 million, down 61%, on sales of $5.4 billion, up 6%. The results included a $100-million after-tax charge for a business improvement program. The 1989 results included a onetime gain from the sale of timberlands in Washington state.
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