Tembec suffered more losses this year as sales for the three-month period that ended Sept. 26 were $451 million, down from $629 million from the same period last year.
The Montreal-based pulp and paper manufacturer generated a net loss of $17 million or $0.17 per share in the September 2009 quarter compared to a net loss of $4 million or $0.04 per share in the September 2008 quarter. Earnings before non-recurring items, interest, income taxes, depreciation, amortization and other non-operating expenses (EBITDA) was negative $9 million for the three-month period ended Sept. 26, compared to EBITDA of $29 million a year ago and negative EBITDA of $42 million in the prior quarter.
For the fiscal year that ended Sept. 26, sales were $1.8 billion as compared to $2.4 billion in the comparative 12-month period. Tembec generated a net loss of $214 million or $2.14 per share.
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