Resolute Forest Products Inc. reported net income of $7 million (excluding special items) for the quarter ended June 30, 2015, compared to net income of $17 million in the same period in 2014. Sales were $926 million in the 2Q, down $165 million, or 15%, from the 2Q 2014.

Resolute Forest Products reports 2Q sales down 15% to $926 million

18:30 / August 3, 2015

Aug 04, 2015. /Lesprom Network/. Resolute Forest Products Inc. reported net income of $7 million (excluding special items) for the quarter ended June 30, 2015, compared to net income of $17 million in the same period in 2014. Sales were $926 million in the 2Q, down $165 million, or 15%, from the 2Q 2014, as the company said in the press release received by Lesprom Network.

GAAP net loss was $4 million, or $0.04 per share, compared to a net loss of $2 million, or $0.02 per share, in the 2Q 2014.

"Our continued focus on costs helped to deliver solid results considering the challenges that continue to pressure our industry," said Richard Garneau, president and CEO. "Our competitive and diversified platform allowed us to weather the tough conditions, including the cyclical headwinds we faced in our growth businesses – market pulp and wood products – as well as increasing difficulty in paper grades, especially newsprint. We are working to maintain our competitive edge by focusing on the proven Resolute operating model in everything we do and pushing to optimize our asset base in order to maximize the utilization of our most cost-effective mills."

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

Lesprom Network

Resolute Forest Products reports 2Q sales down 15% to $926 million

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