News
Recap of some of North America’s pulp and paper company quarterly results.

Please note that there may have been further releases since this publication.

Please note that there may have been further releases since this publication.

TEMBEC’S consolidated sales for the third quarter that ended June 24, 2006 were $862.3 million, down from $937.7 million in the comparable period last year. The company generated a net loss of $6.6 million or $0.08 per share compared to a net loss of $142.5 million or $1.70 per share in the corresponding quarter ended June 25, 2005, and a net loss of $168.2 million or $1.96 per share in the previous quarter.

ABITIBI CONSOLIDATED reported second quarter net earnings of $157 million, or 36 cents a share. This compares to a loss of $43 million, or 10 cents a share, recorded in the second quarter of 2005. Included in the quarter’s results were the following after- tax specific items: a gain on translation of foreign currencies of $130 million and a positive income tax adjustment of $63 million, related to the reduction in the Canadian federal income tax rate.

BOWATER reported a net loss of $10.6 million, or $0.18 per diluted share, on sales of $899.4 million for the second quarter of 2006. These results compare with a net loss of $3.6 million, or $0.06 per diluted share

NORBORD reported earnings for the second quarter of 2006 of $33 million or $0.23 per share. Earnings are down compared to the prior quarter and same quarter last year as North American OSB prices came off record highs. Annualized return on equity was 27%.

KIMBERLY-CLARK reported that net sales in the second quarter of 2006 rose 4.4 percent to $4.2 billion. Diluted net income was 82 cents per share compared with 88 cents per share in 2005, a decrease of about 7 percent.

WEYERHAEUSER reported second quarter net earnings of $314 million, or $1.26 per diluted share, on net sales of $5.7 billion. This compares with $420 million, or $1.71 per diluted share, on net sales of $5.7 billion for the second quarter 2005.

INTERNATIONAL FOREST PRODUCTS recorded net earnings of $8.0 million or $0.17 per share in the 2nd Quarter of 2006 compared to $8.7 million or $0.18 per share in the 1st Quarter of 2006, and $9.0 million or $0.18 per share in the 2nd Quarter of 2005.

WEST FRASER TIMBER reported earnings of $104 million or $2.41 per share on sales of $888 million in the second quarter of 2006 compared to earnings of $6 million or $0.14 per share on sales of $902 million in the first quarter of 2006 and earnings of $38 million or $0.88 per share on sales of $953 million in the second quarter of 2005.

SFK PULP recorded sales for the second quarter ended June 30, 2006, of $70.6 million and a net loss of $2.9 million. Earnings before amortization, financial charges and income taxes (EBITDA) were $6.2 million. This compares with sales of $59.8 million, EBITDA of $7.8 million and net loss of $0.6 million for the same period last year.

SMURFIT-STONE reported a net loss of $44 million, or $0.17 per diluted share, for the second quarter of 2006. These results compare with net income available to common stockholders of $1 million or breakeven on a diluted share basis for the second quarter of 2005. Sales for the three-month period were $1.76 billion, flat with the second quarter of 2005.

CASCADES reported net earnings of $33 million ($0.41 per share) for the quarter ended June 30, 2006 or $16 million ($0.20 per share) excluding specific items. This compares with net earnings of $4 million ($0.05 per share) for the same period in 2005.

POPE & TALBOT reported a net loss of $14.5 million for the three months ended June 30, 2006 compared to a net loss of $7.0 million reported for the same period in 2005 and $12.9 million for the first quarter of 2006.

DOMTAR announced a loss from continuing operations of $3 million ($0.01 per common share) in the second quarter of 2006 compared to a loss from continuing operations of $22 million ($0.10 per common share) in the first quarter of 2006 and earnings from continuing operations of $6 million ($0.02 per common share) in the second quarter of 2005.

FRASER PAPERS second-quarter loss widened to $18 million US, from a year-earlier $5 million US, amid major restructuring, mill downtime and divestitures.