Canfor posts net quarterly loss of $17 million

Canfor has reported a net loss of $17 million in their fourth quarter of 2009. The loss can be compared to a net loss of $5.2 million for the third quarter of 2009 and a net loss of $229.8 million for the fourth quarter of 2008.

For the entire year of 2009, Canfor has reported a net loss of $70.5 million. In 2008, Canfor reported a net loss of $345.2 million.

Commenting on the results, Canfor's President and Chief Executive Officer Jim Shepard said, "Despite improved pulp markets and further progress in cost reduction efforts, the depressed U.S. housing sector continued to weigh heavily on the financial performance of our core lumber business."

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Canfor Reports Net Loss of $17.0 Million for Last Quarter of 2009: Q4 Lumber Markets Were Weak, Pulp Markets Continued to Improve (Canfor)