Orchids Paper Products Co. said its normalized net income for the second quarter came to 17 cents per share, compared with the S&P Capital IQ consensus estimate of 41 cents per share.
EPS fell 49.3% year over year from 33 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.7 million, a decrease of 46.6% from $3.2 million in the year-earlier period.
The normalized profit margin dropped to 4.4% from 7.7% in the year-earlier period.
Total revenue fell 6.8% on an annual basis to $39.4 million from $42.3 million, and total operating expenses decreased on an annual basis to $36.5 million from $37.2 million.
Reported net income declined 32.5% from the prior-year period to $2.6 million, or 25 cents per share, from $3.8 million, or 39 cents per share.