Tembec's consolidated sales for the three-month period ended September 24, 2016, were C$389 million ($290 million), as compared to C$373 million ($278 million) in the same quarter a year ago. The Company generated net earnings of C$12 million ($8.9 million) in 4Q 2016, compared to a net loss of C$32 million ($23.8 million) in 4Q 2015.
Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was C$57 million ($42.5 million) for the three-month period ended September 24, 2016, as compared to adjusted EBITDA of C$36 million ($26.8 million) a year ago and adjusted EBITDA of C$26 million ($19.4 million) in the prior quarter.
For the fiscal year ended September 24, 2016, consolidated sales were C$1.5 billion ($1.1 billion) as compared to C$1.4 billion ($1.04 billion) in the prior year.
The Company generated net earnings of C$20 million ($14.9 million), compared to a net loss of C$150 million ($111.8 million) in fiscal 2015. The prior year loss included a non-cash loss of C$81 million ($60.4 million) related to the translation of US dollar denominated debt.
Adjusted EBITDA was C$148 million ($110.3 million) compared to C$70 million ($52.2 million) in the prior year. Operating earnings increased from C$31 million ($23.1 million) to C$99 million ($73.8 million).
Tembec is a manufacturer of forest products – lumber, pulp, paper and specialty cellulose – and a global leader in sustainable forest management practices. Principal operations are in Canada and France.
