Resolute Forest Products Inc. reported a net loss for the quarter ended March 31, 2017, of $47 million, or $0.52 per share, compared to a net loss of $8 million, or $0.09 per share, in the same period in 2016. Sales were $872 million in the 1Q 2017, down $5 million, or 1%, from the 1Q 2016.

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Resolute Forest Products 1Q sales down to $872 million

Resolute Forest Products Inc. reported a net loss for the quarter ended March 31, 2017, of $47 million, or $0.52 per share, compared to a net loss of $8 million, or $0.09 per share, in the same period in 2016. Sales were $872 million in the 1Q 2017, down $5 million, or 1%, from the 1Q 2016, as the company said in the press release received by Lesprom Network.

Excluding special items, the company reported a net loss of $30 million, or $0.33 per share, compared to a net loss, excluding special items, of $22 million, or $0.25 per share, in the 1Q 2016.

The company recorded an operating loss of $6 million for the 1Q, compared to a break-even position in the 1Q 2016. The difference is mostly explained by closure costs associated with our newsprint mill in Mokpo, start-up costs related to the Calhoun tissue facility and the unfavorable impact of the stronger Canadian dollar. These elements were partially offset by improved pricing and reduced manufacturing costs, particularly due to our asset optimization initiatives.

Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers.