Fortress Paper Ltd. had 2013 first quarter EBITDA loss of
$2.6-million. Excluding corporate costs, combined EBITDA loss of the three business segments
Fortress operated in during the first quarter of 2013 was $300,000 in the three
months ended March 31, 2013. The recently discontinued specialty papers segment
contributed $10.5-million EBITDA, while the dissolving pulp segment and the
security paper products segment generated EBITDA losses of $8.7-million and
$2.1-million, respectively. Corporate costs contributed to EBITDA loss in the
amount of $2.3-million.Fortress reported a net loss (including discontinued
operations) of $12.4-million, or diluted loss per share of 85 cents for the
first quarter of 2013, on sales of $99.7-million. In the fourth quarter of
2012, the company reported a net loss of $4.2-million or diluted loss per share
of 29 cents on sales of $96.1-million, and for the first quarter of 2012, net
loss of $10.7-million or diluted loss per share of 75 cents on sales of
$61.4-million.
