Montreal, Quebec - Consolidated sales for the three-month period ended September 24, 2016, were $389 million, as compared to $373 million in the same quarter a year ago. The Company generated net earnings of $12 million or $0.12 per share in the September 2016 quarter compared to a net loss of $32 million or $0.32 per share in the September 2015 quarter. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $57 million for the three-month period ended September 24, 2016, as compared to adjusted EBITDA of $36 million a year ago and adjusted EBITDA of $26 million in the prior quarter.
Vancouver, British Columbia, November 14, 2016 – Fortress Paper Ltd. ("Fortress Paper" or the "Company") reported 2016 third quarter operating EBITDA of $7.6 million, an increase of $1.3 million and $2.1 million over the previous quarter and prior year comparative period, respectively. The Dissolving Pulp Segment generated operating EBITDA of $11.9 million and the Security Paper Products Segment incurred EBITDA loss of $1.8 million. Corporate costs included in operating EBITDA were $2.5 million.
Richmond, (BC) – Catalyst Paper Corporation (TSX:CYT) today reported significantly improved operating results for the quarter ended September 30, 2016 despite a non-cash impairment write-down of $186.4 million on fixed assets at our Powell River, Port Alberni and Crofton paper mills resulting in a $185.0 million net loss in the quarter.
- Sales of $512.6 million, up 18.4% from $433.1 million a year ago
- 16.1% increase in net income to $45.7 million, or $0.66 per diluted share, versus $39.3 million, or $0.57 per diluted share, last year
- Significant debt reduction of $92.5 million during the quarter resulting from strong cash flow generation
Mississauga (ON), November 3, 2016 – KP Tissue Inc. (KPT) (TSX: KPT) reports the Q3 2016 financial and operational results of KPT and Kruger Products L.P. (KPLP). Kruger Products is Canada's leading manufacturer of quality tissue products for the Consumer market (Cashmere®, Purex®, SpongeTowels®, Scotties®, and White Swan®) and the Away-From-Home market, and continues to grow in the U.S. Consumer tissue business with the White Cloud® brand and premium private label products. KPT currently holds a 16.1% interest in KPLP.
Mississauga (ON), November 3, 2016 – KP Tissue Inc. ("KPT") (TSX:KPT) announced today that the Board of Directors has declared a quarterly dividend of $0.18 per common share, payable on January 16, 2017 to shareholders of record at the close of business on December 30, 2016, subject to applicable law. The dividends paid are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
YORK, Pennsylvania – November 1, 2016 – Glatfelter (NYSE: GLT) today reported third quarter of 2016 net income of $19.6 million, or $0.44 per diluted share compared with $13.5 million, or $0.31 per diluted share in the third quarter of 2015. Adjusted earnings for the third quarter of 2016 were $24.0 million, or $0.54 per diluted share compared with $20.8 million, or $0.47 per diluted share, for the same period a year ago. Adjusted earnings is a non-GAAP measure for which a reconciliation is provided within this release.
Third Quarter & First Nine Months Key Points
- Third quarter Group revenue growth on a constant currency basis of 6%, with volume growth of 3%
- Third quarter EBITDA growth of 6% year-on-year with a margin of 15.7% and sequential EPS growth
- Increased ROCE of 16.1%
- Third quarter free cash flow of €164 million supporting further deleveraging to 2.4 times
- Increased quality of asset base delivering higher returns
- On track to deliver record full year EBITDA
US NBSKP – The shipments of BSKP market pulp to the North American market were relatively weak in January, down by as much as 8.5% against the January 2010 deliveries. The softness of the paper market played a role, possibly also the winter conditions which may have delayed some of the shipments from January to February. With the general tightness of the BSKP globally and with the USD weakness, also the US market continues to be price-wise quite firm. The data reported was now in a range between 960 and 990 USD, with 960 USD and 990 as the most common individual quotes. Our PIX NBSKP US index moved up by 19.36 USD/ton, or by 2.02%, and closed at 979.36 USD/ton.
US Newsprint – North American newsprint market continues to lose volumes. In January, the estimated US newsprint consumption was down by 9.5% against January 2010. Capacity closures appear insufficient to balance the supply and demand and rumours of market-related downtime are increasing. The PIX US Newsprint 30lb index remained at 626.92 USD/ton, and the 27.7 lb index at 669.73 USD/ton.