Graphic Packaging Corp. chipped at its net loss in 2007.

The Marietta, Ga.-based paperboard packaging company, which has a pending $1.8 billion merger deal with Altivity Packaging LLC, posted a net loss of $74.6 million on $2.4 billion in sales. This compares with a net loss of $100.5 million on $2.3 billion in sales in 2006.

Net Loss in 2007 was negatively impacted by an $18.6 million non-cash impairment charge to the company's operations in Sweden.

Loss per share was 37 cents, compared with a loss per share of 50 cents in 2006.

"Although we are still being negatively impacted by higher input costs, we were able to more than offset both fourth quarter and full year cost inflation through a combination of increased pricing and our ongoing cost cutting programs," said David W. Scheible, president and CEO. "Specifically, we took another $12 million of costs out of the system this quarter, bringing full year 2007 benefits from our continuous improvement efforts to approximately $46 million."