However, sales were down 13% year-on-year from 4.8bn to 4.1bn.
Earnings in its printing papers division were down 55% from last years 106.5m and down 36% from the fourth quarter to 52.5m. This was attributed to ongoing weak demand and pricing pressure on market pulp.
International Paper chairman John Dillon said: We continue to improve our underlying cost structure in a difficult macro environment. He said the company had delivered on its commitment to sell businesses that did not meet its long-term goals.
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