Tembec reports financial results for its third quarter ended June 27, 2015
Consolidated sales for the three-month period ended June 27, 2015, were $365 million, as compared to $404 million in the same quarter a year ago. The Company generated a net loss of $16 million or $0.16 per share in the June 2015 quarter compared to net earnings of $30 million or $0.30 per share in the June 2014 quarter. The current quarter results include approximately $12 million of incremental costs related to planned major maintenance conducted at two large operating sites. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $2 million for the three-month period ended June 27, 2015, as compared to adjusted EBITDA of $30 million a year ago and adjusted EBITDA of $12 million in the prior quarter.