ATLANTA - Georgia-Pacific Corporation said Thursday it expects to post a profit in the fourth quarter instead of the loss forecast by Wall Street. <br>
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The wood products giant said it expects to earn 15 cents per share for the last three months of 2001. Analysts surveyed by Thomson Financial/First Call had predicted a loss of six cents per share. <br>
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The Atlanta-based company said continued strong sales of paper towels, plates, cups and bathroom tissue -- coupled with cost-cutting measures -- produced the profit. <br>
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Georgia-Pacific's consumer products segment makes brands such as Brawny towels, Dixie cups and Quilted Northern bath tissue. <br>
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Most analysts had adopted an overly conservative stance about how long Georgia-Pacific would need to realize operating efficiencies from its purchase of Fort James Corporation. <br>
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The company's shares have fallen more than 30 percent since July as investors worry about potential asbestos legal claims against the company from its gypsum board products.
