Clearwater Paper Corp., of Spokane, reported this afternoon third-quarter net income of $6.3 million, or 31 cents a diluted share, compared with income of $13.3 million, or 60 cents a share, in the year-earlier period.

The company attributed the decline in earnings in part to $15.8 million in debt-retirement costs and $3.1 million in expense associated with the company’s closure of its converting and distribution facilities in Georgia and New York.

The company’s net sales increased by almost 5 percent during the quarter, to $511.1 million from $487.8 million in the year-earlier period.

In its consumer products division, Clearwater Paper posted $306.1 million in sales, up 4.5 percent from $292.9 million in the year-earlier quarter. Its pulp and paperboard sales rose at a slighter faster, 5.2 percent pace, to $205 million in the recently completed quarter from $194.9 million in the year-earlier period.  

Linda K. Massman, president and CEO of Clearwater Paper, said in a press release, “During the third quarter, we delivered Clearwater Paper's highest quarterly revenue … in company history, which is reflective of our sharp focus on operational efficiencies, meeting customer commitments, and producing high-quality products.”

The company also completed it most recent $100 million share buyback program during the third quarter.