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Resolute Forest Products reports second-quarter loss, sales down from year ago
MONTREAL – Resolute Forest Products Inc. (TSX:RFP) reported a loss of US$4 million in its latest quarter compared with a loss of $2 million a year ago.
The forestry company, which keeps its books in U.S. dollars, said the loss amounted to four cents per share for the quarter ended June 30 compared with a loss of two cents per share a year ago.
Excluding special items, Resolute said it earned a profit of $7 million or seven cents per share, down from $17 million or 18 cents per share in the same quarter last year.
Sales slipped to $926 million compared with $1.09 billion a year ago.
Resolute has some 40 pulp and paper mills as well as lumber and other wood product operations in the United States, Canada and South Korea as well as power generation assets in Canada.
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