22. QUARTERLY DATA

Verso Paper’s quarterly financial data (unaudited) is as follows:

VERSO PAPER CORP.
	2011												2010
	Fourth			Third			Second			First			Fourth			Third			Second			First
(Dollars in millions, except per share amounts)	Quarter			Quarter			Quarter			Quarter			Quarter			Quarter			Quarter			Quarter
Summary Statement of Operations Data:
Net sales	$	450.3		$	456.8		$	398.8		$	416.6		$	407.7		$	432.9		$	401.1		$	363.6
Gross margin(1)		56.5			81.3			60.3			64.1			70.0			61.0			36.7			26.8
Cost of products sold		424.9			406.7			370.1			383.9			368.5			403.6			397.2			368.9
Selling, general, and administrative expenses		18.2			19.5			21.7			18.6			21.8			16.4			16.6			16.2
Goodwill impairment		18.7			-			-			-			-			-			-			-
Restructuring and other		24.5			-			-			-			-			-			-			-
Interest income		-			-			(0.1	)		-			-			(0.1	)		-			-
Interest expense		31.8			30.8			31.6			32.4			31.7			32.2			31.9			32.3
Other income, net		-			-			(0.2	)		26.3			(0.4	)		-			(0.3	)		(0.2	)
Income tax expense		0.1			0.1			-			-			0.1			-			-			-
Net income (loss)		(67.9	)		(0.3	)		(24.3	)		(44.6	)		(14.0	)		(19.2	)		(44.3	)		(53.6	)
Share Data(2):
Earnings (loss) per share:
Basic	$	(1.29	)	$	(0.01	)	$	(0.46	)	$	(0.84	)	$	(0.27	)	$	(0.36	)	$	(0.85	)	$	(1.02	)
Diluted		(1.29	)		(0.01	)		(0.46	)		(0.84	)		(0.27	)		(0.36	)		(0.85	)		(1.02	)
Weighted average shares of common stock
outstanding (thousands):
Basic		52,605			52,620			52,623			53,114			52,467			52,466			52,466			52,381
Diluted		52,605			52,620			52,623			53,114			52,467			52,466			52,466			52,381
Closing price per share:
High	$	1.91		$	3.12		$	5.12		$	6.10		$	4.01		$	3.18		$	5.66		$	3.94
Low		0.91			1.67			2.62			3.53			2.85			2.08			2.31			2.83
Period-end		0.96			1.67			2.68			5.35			3.42			2.88			2.31			3.04
(1) Gross margin represents net sales less cost of products sold, excluding depreciation, amortization, and depletion.
(2) No dividends were declared or paid in any of the periods presented.