NEW YORK (MarketWatch) -- Schweitzer-Maudit International Inc. /zigman2/quotes/208081440/composite SWM +4.18% said Friday it expects second-quarter earnings of about 38 cents a share, less than its previous expectations. The current average estimate of analysts polled by Thomson First Call is for a profit of 54 cents a share in the June period. The Alpharetta, Ga., paper supplier said results were hurt by inflationary cost increases, reflected in higher purchased energy, purchased materials and labor and benefit expenses, as well lower average selling prices due to an unfavorable product mix. Looking ahead, the company said it expects earnings of $1.40 to $1.50 a share for the full year. The stock closed Thursday at $31.59, down 2.4%.