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Domtar’s net earnings decreases in Q1 2017

Domtar has reported net earnings of $20m ($0.32 per share) for the first quarter of 2017 compared to net earnings of $47m ($0.75 per share) for the fourth quarter of 2016 and net earnings of $4m ($0.06 per share) for the first quarter of 2016.

Sales for the first quarter of 2017 were $1.3 billion.

Excluding items listed below, the Company had earnings before items of $20 million ($0.32 per share) for the first quarter of 2017 compared to earnings before items of $47 million ($0.75 per share) for the fourth quarter of 2016 and earnings before items of $22 million ($0.35 per share) for the first quarter of 2016.

First quarter 2017 items:

  • None.

Fourth quarter 2016 items:

  • Closure and restructuring impact of $ million ($ million after tax); and
  • Negative impact of purchase accounting of $1 million ($1 million after tax).

First quarter 2016 items:

  • Closure and restructuring costs of $2 million ($2 million after tax); and
  • Impairment of property, plant & equipment of $21 million ($16 million after tax