For fiscal year 2014, net earnings amounted to $431 million compared to net earnings of $91 million for fiscal year 2013. Sales amounted to $5.6 billion for fiscal year 2014.
Commenting on the full-year results, John D. Williams, President and CEO, said, "Looking back at 2014, we delivered a year of strong results with solid free cash flow generation. Overall, we had good operating performance despite lack-of-order downtime in paper and we continued to adjust to rapidly changing market conditions. We also turned an important corner on our journey to build a growing, fiber-based business through acquisitions, strategic investments in manufacturing capacity and the additional repurposing of existing assets. We ended the year with strengthened earnings potential for the long-term."
Operating income was $115 million in the 4Q 2014 compared to an operating income of $104 million in the 3Q 2014. Depreciation and amortization totaled $93 million in the 4Q 2014.
Commenting on the 4Q results, Mr. Williams said, "In the 4Q, our results were strong despite a competitive paper market environment while pulp benefitted from good operating performance. During the quarter, we announced a fluff pulp conversion project that will further expand our presence in a growing business and help balance our paper supply with our customers' demand."
Domtar Corporation designs, manufactures, markets and distributes a wide variety of fiber-based products including communication papers, specialty and packaging papers and absorbent hygiene products.