Moving Forward with Long-Term Strategic Initiatives
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.