Home / Knowledge / News / Textiles / Domtar Corp Q4'13 net earnings more than doubles q-o-q
Domtar Corp Q4'13 net earnings more than doubles q-o-q
08
Feb '14
Domtar Corporation reported net earnings of $65 million ($2.00 per share) for the fourth quarter of 2013 compared to net earnings of $27 million ($0.82 per share) for the third quarter of 2013 and net earnings of $19 million ($0.54 per share) for the fourth quarter of 2012. Sales for the fourth quarter of 2013 were $1,359 million.
 
Highlights: 
-Fourth quarter 2013 net earnings of $2.00 per share, earnings before items of $2.09 per share
-Announced and completed on January 2, 2014, the acquisition of Laboratorios Indas, Spain's largest manufacturer and marketer of adult incontinence products
-Completed a long-term financing with the successful issuance of 30-year senior notes
 
Excluding items listed below, the Company had earnings before items1 of $68 million ($2.09 per share) for the fourth quarter of 2013 compared to earnings before items1 of $41 million ($1.25 per share) for the third quarter of 2013 and earnings before items1 of $46 million ($1.31 per share) for the fourth quarter of 2012.
 
Fourth quarter 2013 items:
Net gain on sale of property, plant and equipment and business for $5 million ($4 million after tax); and Charge of $7 million ($7 million after tax) for impairment of property, plant and equipment.
 
Third quarter 2013 items:
Loss on sale of business of $19 million ($12 million after tax); and
Negative impact of purchase accounting of $2 million ($2 million after tax).
 
Fourth quarter 2012 items:
Closure and restructuring costs of $27 million ($18 million after tax),
Charge of $12 million ($8 million after tax) related to the impairment and write-down of property, plant and equipment and intangible assets; and Net losses on the sale of property, plant and equipment of $2 million ($1 million after tax).
 
Commenting on the fourth quarter results, John D. Williams, President and Chief Executive Officer, said, "Our solid results in the fourth quarter were mostly in line with our expectations in all of our businesses. Lower planned maintenance shutdowns and the continued momentum in pulp markets drove quarter over quarter earnings improvement."
 
FISCAL YEAR 2013 HIGHLIGHTS
For fiscal year 2013, net earnings amounted to $91 million ($2.72 per share) compared to net earnings of $172 million ($4.76 per share) for fiscal year 2012. 
 
The Company had earnings before items1 of $158 million ($4.73 per share) for fiscal 2013 compared to earnings before items1 of $233 million ($6.45 per share) for fiscal 2012. Sales amounted to $5.4 billion for fiscal year 2013.
 
Click here to view full results
 

Domtar Corporation


Interviews View All

Yash Agarwal, Hitansh Online

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Top executives, Textile industry

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Office bearers, Textile industry

Office bearers
Textile industry

There might be negative impact on garment exports

Christiane Thies,

Christiane Thies

Founded in 1892, Thies has concentrated on the fabrication of high-quality ...

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search