Catalyst Paper posts quarterly net earnings of $13.2 million

Catalyst Paper has recorded net earnings of $13.2 million ($0.03 per common share) on sales of $263.4 million for the third quarter of 2009 compared to a net loss of $1.9 million ($0.01 per common share) on sales of $291.5 million in the second quarter. Net earnings reflect a $33 million after-tax gain on translation of long-term U.S. dollar denominated debt, comparable to the gain in the second quarter.

"With the exception of pulp, the best that can be said about third quarter markets is that demand decline has slowed down," said President and CEO Richard Garneau. "Looking to the fourth quarter and into 2010, we expect results to come under heavy pressure due to the continued weak markets, uncertainty in pricing recovery, and the negative impact of an escalating Canadian dollar."

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Catalyst posts improved results but market challenges persist (Catalyst Paper)