Crown Zellerbach reported that its net income...

Crown Zellerbach reported that its net income for the quarter ended March 31 plunged to $600,000 from $19.2 million a year earlier. The San Francisco firm’s Paper Group posted a 12% decline in earnings while its Specialty Packaging Group’s earnings were just slightly lower than they were a year earlier. Zellerbach said its Distribution Group’s earnings dropped 79%. However, the firm’s timber and wood products earnings were double last year’s.