For the 3Q 2014, Mercer International had record net income of $88.3 million, or $1.38 per basic and $1.37 per diluted share, compared to net loss of $3 million, or $0.05 per basic and diluted share, in the 3Q 2013.
Jimmy S.H. Lee, President and Chairman, stated: "For the 3Q 2014, our operating EBITDA increased by approximately 106% to $67.6 million from $32.8 million in the comparative quarter of 2013, primarily as a result of lower per unit fiber costs, higher pulp pricing and the strengthening of the U.S. dollar relative to the Canadian dollar and the Euro. Compared to the prior quarter of 2014, our operating EBITDA increased by approximately 61% from $41.9 million, primarily as a result of less lost production from scheduled maintenance downtime at our mills and the overall strengthening of the U.S. dollar relative to the Euro and the Canadian dollar."
Total revenues for the three months ended September 30, 2014 increased by approximately 12% to $301.6 million from $269.2 million in the same period in 2013, due to higher pulp revenues and higher energy and chemical revenues.
For the 3Q 2014, operating income increased by approximately 262% to $48.2 million from $13.3 million in the comparative quarter of 2013, primarily due to lower per unit fiber costs, higher pulp prices and the impact of a stronger U.S. dollar on Canadian dollar and Euro denominated expenses.
Total revenues for the nine months ended September 30, 2014 increased by approximately 11% to $892.5 million from $805.7 million in the same period in 2013, due to higher pulp revenues and higher energy and chemical revenues.
In the nine months ended September 30, 2014, operating income increased to $109.5 million from $24.7 million in the comparative period of 2013, primarily due to higher pulp price realizations, lower per unit fiber costs and higher pulp and record energy sales volumes.
In the nine months ended September 30, 2014, operating EBITDA increased to $168.5 million from $83.1 million in the same period of 2013.
Mercer International Inc. is a global pulp manufacturing company.
