Tembec reported consolidated sales for the three-month period ended March 28, 2015, were $348 million, as compared to $362 million in the same quarter a year ago. The Company generated a net loss of $40 million or $0.40 per share in the March 2015 quarter compared to a net loss of $28 million or $0.28 per share in the March 2014 quarter. The current quarter results include a non-cash loss of $37 million related to the translation of US dollar denominated debt.
Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $12 million for the three-month period ended March 28, 2015, as compared to adjusted EBITDA of $18 million a year ago and adjusted EBITDA of $20 million in the prior quarter.
Tembec is a manufacturer of forest products — lumber, pulp, paper and specialty cellulose — and a global leader in sustainable forest management practices. Principal operations are in Canada and France.
