Resolute Forest posts smaller Q4, full-year losses in 2016 compared with 2015

Resolute Forest posts smaller Q4, full-year losses in 2016 compared with 2015

MONTREAL — Resolute Forest Products Inc. says it lost US$81 million last year, more than half of it in the fourth quarter.

The Montreal-based company (TSX:RFP), which reports its results in U.S. dollars, says it lost $45 million or 50 cents per share in the fourth quarter. That compared with a loss of $214 million, or $2.39 per share, in the same period in 2015.

Excluding special items, Resolute said it lost $3 million or three cents per share, compared with a loss of $26 million or 29 cents per share in the fourth quarter last year.

Sales in the fourth quarter were $889 million, down from $894 million a year earlier.

For the full year, Resolute’s loss amounted to 90 cents per share on $3.55 billion in sales. That compared with a loss of $257 million or $2.78 per share on $3.65 billion in sales in 2015.

Excluding special items, the company said it earned $4 million or four cents per share in 2016 compared with a loss of $24 million or 26 cents per share in 2015.

The Canadian Press

Categories: Business

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