Richmond, (BC) – Catalyst Paper (TSX:CYT) posted a net loss of $9.8 million ($0.89 per common share) in the first quarter of 2013. The loss was $11.6 million before specific items. Improvement over the final quarter of 2012 – when the company recorded a loss of $35.2 million ($1.55 per common share) and $15.7 million before specific items – was driven by increased prices for pulp, and lower maintenance costs.
Richmond, (BC) – Catalyst Paper (TSX:CYT) results in the fourth quarter were negatively impacted by lower sales volumes, higher maintenance spending and a stronger Canadian dollar.
Catalyst posted a net loss of $35.2 million for the quarter, in contrast to net earnings of $655.7 million in the third quarter, when the one-time gains realized on emergence from creditor protection were booked. Before specific items, net losses were $15.7 million and $7.5 million in Q4 and Q3 respectively. Adjusted EBITDA was $7.2 million in Q4, with no impact from restructuring costs, and $13.8 million in Q3 ($14.0 million before restructuring costs).
Richmond, BC – Catalyst Paper (TSX:CYT) announced today that it has agreed, subject to court approval, to sell its approximately 50% interest in Powell River Energy Inc. and Powell River Energy Limited Partnership to Powell River Energy Trust, a Brookfield Renewable Energy affiliate for $33 million. Powell River Energy Trust currently holds the other 50% stake in the Powell River Energy joint venture originally established in 2001.
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Richmond, BC - Catalyst Paper Corporation will hold a conference call on Wednesday March 6 at 8:00 a.m. Pacific, 11:00 a.m. Eastern, to review the Company's fourth quarter and 2012 year-end results which will be released on Tuesday March 5, 2013. Kevin J. Clarke, President and Chief Executive Officer, and Brian Baarda, Vice-President Finance and Chief Financial Officer, will host the call.
Richmond, BC - Catalyst Paper (TSX:CYT) is marking its return to publicly traded status earlier this month by opening the market at Toronto Stock Exchange today. Catalyst President and Chief Executive Officer Kevin J. Clarke, is being joined by board member Todd Dillabough, other Catalyst executives and representatives of several key stakeholder groups to mark the event.
Richmond, BC – Catalyst Paper Corporation announced today that final approval has been received for listing on the Toronto Stock Exchange (TSX) of its new class of common shares (new Shares) created pursuant to its reorganization under the Companies’ Creditors Arrangement Act that completed on September 13, 2012. The new Shares will begin trading on the TSX on January 7, 2013 under the trading symbol “CYT”.
Richmond, (BC) – A significant one-time credit arising from reorganization gains and “fresh-start accounting” valuation adjustments resulted in third quarter net earnings of $655.7 million for Catalyst Paper. The company emerged from creditor protection on September 13, 2012 with significant debt and cost-structure improvements.
Richmond, (BC) – Catalyst Paper recorded a net loss of $11.7 million in the second quarter of 2012 ($0.03 per common share), in comparison to a net loss of $25.6 million ($0.07 per common share) the quarter before. Improvement in the current quarter was mainly due to a gain on the sale of surplus-assets and a net reorganization credit reflecting confirmed claim amounts. Before these and other specific items, the net loss for the quarter was $5.0 million compared to a net loss of $9.6 million in the prior quarter.
Richmond, (BC) – Catalyst Paper recorded a net loss of $25.6 million in the first quarter of 2012 due primarily to the impact of restructuring and reorganization expenses of $27.6 million. Before specific items, the net loss was $9.6 million. This compared with a net loss of $708.0 million and $41.7 million before specific items in the fourth quarter which was impacted by significant impairment charges on Canadian operations and on Snowflake mill lands, restructuring costs and foreign exchange.
Richmond, (BC) – Catalyst Paper (TSX:CTL) posted a net loss of $974.0 million ($2.55 per common share) in 2011 due in large part to asset impairments on Canadian and Arizona-based operations. Other factors contributing to the loss were capital restructuring costs, a foreign exchange loss on the translation of U.S. dollar denominated debt and fire-related outages at the Snowflake and Powell River mills. The company’s net loss in 2010 was $396.9 million ($1.04 per common share).
Richmond, (BC) – Catalyst Paper (TSX: CTL) posted a net loss of $205.7 million ($0.54 per common share) on sales of $340.3 million during the third quarter of 2011. The net loss was largely due to a $151.0 million impairment charge on the company’s Snowflake facility.
Richmond, (BC) – Catalyst Paper (TSX: CTL) posted a net loss of $205.7 million ($0.54 per common share) on sales of $340.3 million during the third quarter of 2011. The net loss was largely due to a $151.0 million impairment charge on the company’s Snowflake facility.
Kevin J.
Richmond, (BC) – Catalyst Paper (TSX:CTL) posted a net loss of $47.4 million ($0.13 per common share) on sales of $297.8 million during the second quarter of 2011. The net loss increased from $12.9 million ($0.03 per common share) on sales of $303.6 million during the first quarter, due to reduced production and increased maintenance spending. Production at the Powell River and Snowflake mills was affected by extended maintenance downtime and further hampered by fires at both mills during the quarter. A stronger Canadian dollar and higher fibre prices also negatively affected results.
The Annual Meeting was held on Thursday April 28, 2011 in the Delta Vancouver Airport Hotel,.
Richmond, (BC) – Catalyst Paper (TSX:CTL) posted a net loss of $12.9 million ($0.03 per common share) on sales of $303.6 million in the first quarter of 2011, reflecting a post-holiday season plateau in paper markets. Sales revenues were negatively impacted by the above-par Canadian dollar; however a foreign exchange gain was recorded on the translation of U.S. dollar denominated debt. In the previous quarter, net earnings of $9.6 million ($0.02 per common share) were recorded on sales of $333.6 million.
Richmond, (BC) – Catalyst Paper (TSX:CTL) posted a net loss of $396.9 million ($1.04 per common share) on sales of $1,228.6 million during 2010. Results were significantly impacted by one-time charges of $304.2 million, including severance and impairment, associated with the permanent closure of the Elk Falls paper mill and Paper Recycling Division. The company’s net loss in 2009 was $4.4 million ($0.01 per common share) on sales of $1,223.5 million.
Dates subject to change
Q1 2011 Earnings Release April 27 2011
Q2 2011 Earnings Release July 26 2011
Q3 2011 Earnings Release October 31 2011
The 2010 annual meeting was held on Wednesday April 28, 2010.
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