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Stephane Malhomme
By: Stephane Malhomme
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Citing difficulties related to currency fluctuations and rising costs of raw materials, Cascades announced the results of mixed fortunes for its first quarter, noting a decline in earnings, but also of its debt.
The company's net earnings fell to $ 0 per share, compared with $ 0.22 per share in the same quarter last year. Guests on the airwaves Silver Thursday, its chairman Alain Lemaire did not seem surprised. "The cost of raw materials hit a record this year, an increase that we have not reflected on the prices of our customers. The dollar has hurt us too, so it is obvious that our earnings would fall, "he said.
Operating income before depreciation (EBITDA) excluding special items was $ 78,000,000 compared to $ 107 million in Q1 2009.
Asked about the share price of the Cascades, which sank $ 9.50 to $ 6.75 since the beginning of Mr. Lemaire remained philosophical, saying that if he understood the current wave of investors, his company could boast of solid revenue, and debt under control. "We are not ashamed, and great confidence in our ability to come back," he said.
http://lejournaldesherbrooke.canoe.ca/webapp/sitepages/content.asp?contentid=142310&id=1656&classif=Nouvelles
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