Operating income exclusive of special items was $41.0 million, down $3.9 million when compared to 2006, and was down $8.4 million compared to 2006 excluding the effect of changes in foreign currency exchange rates Loss from continuing operations was $13.8 million, or $0.71 per share, compared to a loss of $32.4 million, or $1.67 per share, for 2006. Excluding special items, loss from continuing operations was $1.9 million, or $0.10 per share, compared to income from continuing operations of $7.0 million, or $0.36 per share, for 2006."2007 was a challenging year for Chesapeake, but it was also a year when much was accomplished," said Andrew J. Kohut, Chesapeake's president & chief executive officer. "By the end of the year we resolved some service issues in our paperboard segment. As a result of this improved service, coupled with a renewed emphasis on customers, we have secured significant new business as we head into 2008. We have also made solid progress on our refinancing. Because of these achievements and the more recession-resilient end-use markets we focus on, I expect that 2008 will be better than 2007. However, we expect the first half of the year to be lower than 2007 with the improvement to occur in the last half of the year."
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