Reorganization of Catalyst Paper leads to net earnings of $655.7 million in Q3, 2012:
Catalyst Paper is reporting net income of $655.7 million in the third quarter of 2012 due to a significant one-time credit arising from reorganization gains and “fresh-start accounting” valuation adjustments.
The company emerged from creditor protection on September 13, 2012 with significant debt and cost-structure improvements.
In the quarter before, Catalyst Paper reported a net loss of $11.7 million. Sales in the third quarter were essentially unchanged at $265.7 million.
