RICHMOND, Va. (AP) — MeadWestvaco Corp. said Wednesday that sales gains in its specialty chemicals business drove the packaging company to a fourth-quarter profit, but the results fell short of Wall Street expectations.

MeadWestvaco’s earnings were hurt by a “sudden drop in economic activity” at the end of the year associated with the fiscal cliff, as well as ongoing global macroeconomic challenges, CEO John A. Luke Jr. said in a news release. Separately, the Commerce Department reported that the U.S. economy shrank 1 percent during the October-to-December quarter.