Clearwater Paper Corp. has reported a first-quarter net loss of $6.3 million, or 38 cents per diluted share, a decline from the year-earlier quarter when the Spokane-based paperboard manufacturer posted net income of $17.2 million, or $1.03 per share.

Clearwater’s net sales rose in the first quarter, reaching $378.2 million, up from $258.8 million in the year-earlier quarter.

The 46% increase in sales was primarily due to incremental volume from Clearwater’s paperboard manufacturing facility in Augusta, Georgia, which the company acquired for $700 million last year.

Despite the earnings dip, Clearwater President and CEO Arsen Kitch, who recently renewed his employment agreement, expressed optimism about the company’s outlook.

“We started to see benefits from our fixed-cost reduction efforts during the first quarter and expect additional savings as we progress throughout the year,” Kitch says in a release. “With continued improving demand, we remain optimistic about the long-term prospects of paperboard packaging and expect to benefit from consumer and customer preferences for sustainable products.”

Clearwater (NYSE: CLW) stock traded at $25.01 per share at the close of the market on April 29, up from its 52-week low of $22.58 and down from its 52-week high of $57.13.