AbitibiBowater posts net loss of $510 million

AbitibiBowater has posted their quarterly results and have reported a net loss of $510 million (or about $8.84 per share) with an operating loss of $285 million.

In comparison, in the same quarter last year, the company reported a net loss of $251 million (or about $4.36 per share).

Sales fell to $1.04 billion from $1.7 billion a year earlier.

The company posted an operating loss excluding interest expenses and one-time charges of about $285 million for the period ending June 30, far larger than its $63 million loss a year ago.

Read more:

Bankrupt AbitibiBowater posts bigger Q2 loss (Reuters)