Resolute Forest Products Reports Q2 Results

http://www.paperage.com/2013news/08_01_2013resolute_earnings.html

Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today reported a net loss of $43 million for the quarter ended June 30, 2013, or $0.45 per share, on sales of $1.1 billion. This compares with a net loss of $17 million, or $0.17 per share, on sales of $1.2 billion in the second quarter ended June 30, 2012.

(US $)

Reports Q2 net income of $18 million / $0.19 per share, excluding special items
Continues to reduce newsprint cost
Reduces annual cash interest burden by $16 million with refinancing

Excluding $61 million of special items described below, net income for the quarter was $18 million, or $0.19 per diluted share. Excluding special items of $50 million, net income in the second quarter of 2012 was $33 million, or $0.33 per diluted share. Adjusted EBITDA was $90 million in the quarter, compared to $124 million in the year-ago period.