International Paper: The wood products and paper...
From Times Staff and Wire reports
International Paper: The wood products and paper company said its yearly income fell 34% to $569 million, although revenue was up 14% to $13 billion. Fourth-quarter income dropped 88% to $23 million on revenue that rose 13.8% to $3.3 billion. Purchase, N.Y.-based International Paper said the earnings declines reflected a softening economy and a $137-million fourth-quarter charge against the future sale of assets.
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