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Catalyst Paper Q3 results strengthen on paper price and operational improvement

^{Published on 2010-11-02 15:36:50 - Market Wire}
 

 Selected Third Quarter Highlights ------------------------------------------------------------------------- (In millions of Canadian dollars, except where otherwise stated) ------------------------------------------------------------------------- 2010 ------------------------------------------------------------------------- YTD Q3 Q2 Q1 ------------------------------------------------------------------------- Sales $895.0 $322.3 $299.4 $273.3 Operating earnings (loss) (367.7) 5.1 (323.9) (48.9) EBITDA(2) 17.6 34.2 (0.4) (16.2) - before specific items(2) 42.9 34.5 10.5 (2.1) Net earnings (loss) attributable to the Company (406.5) 6.0 (368.4) (44.1) - before specific items(2) (91.1) (9.6) (43.9) (37.6) EBITDA margin(2) 2.0% 10.6% (0.1%) (5.9%) - before specific items(2) 4.8% 10.7% 3.5% (0.8%) Net earnings (loss) per share attributable to the Company's common shareholders (in dollars) - basic and diluted $(1.06) $0.02 $(0.96) $(0.12) - before specific items(2) (0.24) (0.03) (0.11) (0.10) ------------------------------------------------------------------------- ------------------------------------------------------------------------- 2009(1) ------------------------------------------------------------------------- TOTAL Q4 Q3 Q2 Q1 ------------------------------------------------------------------------- Sales $1,223.5 $295.0 $266.9 $300.7 $360.9 Operating earnings (loss) (40.8) (41.1) (10.0) (21.5) 31.8 EBITDA(2) 123.2 14.1 25.9 14.3 68.9 - before specific items(2) 141.1 15.5 25.9 26.6 73.1 Net earnings (loss) attributable to the Company (4.4) (35.8) 13.2 (1.9) 20.1 - before specific items(2) (58.8) (21.8) (19.8) (25.6) 8.4 EBITDA margin(2) 10.1% 4.8% 9.7% 4.8% 19.1% - before specific items(2) 11.5% 5.3% 9.7% 8.8% 20.3% Net earnings (loss) per share attributable to the Company's common shareholders (in dollars) - basic and diluted $(0.01) $(0.09) $0.03 $(0.01) $0.06 - before specific items(2) (0.15) (0.06) (0.05) (0.06) 0.02 ------------------------------------------------------------------------- (1) Refer to the company's Q3 2010 Management Discussion & Analysis Section 8, Changes in Accounting Policies for a discussion of the change in our policy with respect to classification of gains and losses on certain of our derivative financial instruments and translation of foreign currency-denominated working capital balances effective January 1, 2010. Prior period comparative information has been restated. (2) Refer to the company's Q3 2010 Management Discussion & Analysis Section 6, Non-GAAP Measures.