Tembec posts 3Q net loss of $5 million
Jul 26, 2012. Tembec has posted 3Q consolidated sales for the three-month period ended June 23, 2012, of $415 million, as compared to $448 million in the comparable period of the prior year. The Company generated a net loss of $5 million or $0.05 per share in the June 2012 quarter compared to net earnings of $17 million or $0.17 per share in the June 2011 quarter.
Jul 26, 2012. /Lesprom Network/. Tembec has posted 3Q consolidated sales for the three-month period ended June 23, 2012, of $415 million, as compared to $448 million in the comparable period of the prior year. Tembec generated a net loss of $5 million or $0.05 per share in the June 2012 quarter compared to net earnings of $17 million or $0.17 per share in the June 2011 quarter, as the company said in the press release received by Lesprom Network.
Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $27 million for the three-month period ended June 23, 2012, as compared to adjusted EBITDA of $33 million a year ago and adjusted EBITDA of $2 million in the prior quarter.
The Specialty Cellulose and Chemical Pulp segment generated adjusted EBITDA of $18 million on sales of $167 million for the quarter ended June 23, 2012, compared to adjusted EBITDA of $31 million on sales of $176 million in the prior quarter. Sales decreased by $9 million primarily as a result of lower shipments.
The Paper segment generated adjusted EBITDA of $9 million on sales of $86 million for the quarter ended June 2012, compared to adjusted EBITDA of $4 million on sales of $79 million in the prior quarter. Higher coated bleached board and newsprint shipments caused the $7 million increase in sales. In terms of market, coated bleached board was stable. Newsprint also remained stable despite continued weaker North American demand statistics.
The High-Yield Pulp segment generated adjusted EBITDA of $5 million on sales of $101 million for the 3Q, compared to negative adjusted EBITDA of $16 million on sales of $77 million in the prior quarter. Sales increased by $24 million based on a combination of higher shipments and prices. Market conditions for high-yield pulp remained weak in the most recent quarter.
The Forest Products segment generated negative adjusted EBITDA of $2 million on sales of $86 million for 3Q, compared to negative adjusted EBITDA of $11 million on sales of $112 million in the prior quarter. The sale of the Company’s two B.C. sawmills at the end of the prior quarter had a significant impact on sales. The sawmills had shipped 91 million board feet of lumber in the prior quarter and had generated lumber, chip and by-product revenues of $44 million.
Tembec is a manufacturer of forest products – lumber, pulp, paper and specialty cellulose – and a global leader in sustainable forest management practices.