Domtar Corporation had earnings before items of $70 million for the 4Q 2015 compared to earnings before items of $54 million for the 3Q 2015 and earnings before items of $91 million for the 4Q 2014.
Operating income before items was $115 million in the 4Q 2015 compared to an operating income before items of $82 million in the 3Q 2015. Depreciation and amortization totaled $89 million in the 4Q 2015.
The increase in operating income before items in the 4Q 2015 was the result of lower costs for planned maintenance, higher volume, higher productivity, lower raw material costs, a favorable exchange rate and lower freight and other costs. These factors were partially offset by lower average selling prices and higher selling, general and administrative expense.
For fiscal year 2015, net earnings amounted to $142 million compared to net earnings of $431 million for fiscal year 2014. Sales amounted to $5 .3 billion for fiscal year 2015.
Commenting on the full-year results, John D. Williams, President and CEO, said, "I am pleased with our full-year performance. Our businesses generated strong free cash flow, and we further advanced on our Personal Care growth plan with a number of important customer wins. Our solid performance enabled us to return cash to shareholders, manage our balance sheet to preserve financial flexibility and better position Domtar for sustainable, long-term growth. Our business transformation is still underway, but our financial results are starting to show the benefits of investments we are making in our facilities, in our people, and in our future."
Domtar is a leading provider of a wide variety of fiber-based products including communication, specialty and packaging papers, market pulp and absorbent hygiene products.
