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Pregis Announces Second Quarter 2009 Financial Results
Date:8/13/2009

ax expense (benefit) 2,167 1,121 (1,501) 3,831 ----- ----- ------ ----- Net income (loss) $3,063 $(5,569) $(7,345) $(8,841) ------ ------- ------- ------- Pregis Holding II Corporation Consolidated Statements of Cash Flows Unaudited (dollars in thousands) Six Months Ended June 30, --------------- 2009 2008 ---- ---- Operating activities Net loss $(7,345) $(8,841) Adjustments to reconcile net loss to cash provided by operating activities: Depreciation and amortization 22,776 27,150 Deferred income taxes (2,845) 1,428 Unrealized foreign exchange gain (4,693) (3,432) Amortization of deferred financing costs 1,187 1,187 (Gain) loss on disposal of property, plant and equipment (257) 427 Stock compensation expense 734 434 Changes in operating assets and liabilities Accounts and other receivables, net 8,436 (11,413) Due from Pactiv - 5,524 Inventories, net 6,504 (6,732) Prepayments and other current assets 1,251 (903) Accounts payable (5,642) 14,4
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