May 10, 2008
Fibre costs, loonie drop Cascades to first-quarter net loss of $4 million
“Market conditions continued to deteriorate as the cost of recycled paper and energy increased while in Canada, demand weakened in some of our groups”
- Tissue and cardboard maker Cascades Inc. (TSX:CAS) reported a first-quarter net loss of $4 million, reversing a year-ago $22-million profit as the company was hit by high fibre costs, a strong Canadian dollar and challenging business conditions in the company's boxboard and tissue paper sectors.
The Quebec company said Thursday it lost four cents a share for the three months ended March 31. That compared with net earnings of $22 million or 22 cents a share for the same period in 2007.
When excluding specific items, the net loss for the quarter amounted to $9 million, compared with earnings of $5 million last year. Read more
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