SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
April 18,2001
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Date of Report (Date of earliest event reported)
INTERNATIONAL PAPER COMPANY
(Exact name of Registrant as Specified in Its charter)
NEW YORK
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(State or Other Jurisdiction of Incorporation)
1-3157 13-0872805
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Commission File Number (IRS Employer Identification No.)
400 Atlantic Street, Stamford, Connecticut 06921
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(Address of Principal Executive Offices) (Zip Code)
203-358-7000
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
Item 1. CHANGES IN CONTROL OF REGISTRANT.
N/A
Item 2. ACQUISITION OR DISPOSITION OF ASSETS.
N/A
Item. 3. BANKRUPTCY OR RECEIVERSHIP.
N/A
Item 4. CHANGES IN REGISTRANT'S DIRECTORS.
N/A
Item 5. OTHER EVENTS.
The Company today reported first-quarter 2001 earnings of $24 million
($.05 per share) before special and extraordinary items. Earnings for the same
period a year earlier were $249 million ($.60 per share) before special and
extraordinary items. First-quarter 2001 net sales were $6.9 billion, compared to
$6.4 billion in the first-quarter 2000. Fourth-quarter 2000 earnings before
special and extraordinary items were $145 million ($.28 per share) and sales
were $7.2 billion. First-quarter 2000 figures do not include Champion
International Corporation, which International Paper acquired in June of last
year.
After special and extraordinary items, International Paper reported a
net loss of $44 million ($.09 per share) in the first quarter of 2001, compared
with net earnings of $378 million ($.91 per share) in the first-quarter of 2000
after special and extraordinary items. The company reported a net loss of $371
million ($.85 per share) in the fourth quarter of 2000 after special and
extraordinary items.
Special and extraordinary items in the first quarter represented the
cumulative impact of adopting the new accounting standard for derivative and
hedging transactions ($25 million before taxes and minority interest), an
extraordinary item for additional anticipated losses on dispositions ($73
million before taxes) and a special item for additional Champion merger
integration costs ($10 million before taxes). The total pre-tax charge was $108
million or $68 million after taxes and minority interest ($.14 per share).
Item 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
N/A
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(99.1) Press release issued by International Paper dated April 18,
2001 announcing first quarter earnings.
Item 8. CHANGE IN FISCAL YEAR.
N/A
Item 9. REGULATION FD DISCLOSURE.
N/A
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
INTERNATIONAL PAPER COMPANY
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(Registrant)
Date: April 18, 2001 By /s/ Carol M. Samalin
Purchase, New York Carol M. Samalin
Assistant Secretary
STATEMENT OF DIFFERENCES
The service mark symbol shall be expressed as........................'sm'