Cascades Inc. (CAS.TO: Quote,CADNF.PK) reported fourth-quarter profit of C$5 million or C$0.05 per share versus a loss of C$12 million or C$0.12 per share a year ago.
Net loss per share excluding specific items was C$0.04 compared to a net earnings per share of C$0.17 in the same period of last year.
Sales rose by 17% to C$913 million from a year ago, resulting from higher selling prices, the net contribution of business acquisitions over divestitures and the full consolidation of the results of RdM since the second quarter 2011.
Commenting on the fourth quarter results, Alain Lemaire, President and Chief Executive Officer stated,
"..Two other factors also influenced the fourth quarter performance. Seasonality inherent to this quarter and softer demand experienced throughout the industry have resulted in lower shipments. Also, lower operational efficiency at certain of our production units has contributed to higher production costs and lower profitability."
Further, the Board of Directors of Cascades declared a quarterly dividend of C$0.04 per share to be paid on March 23, 2012 to shareholders of record at the close of business on March 9, 2012.
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by RTT Staff Writer
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