Alliance Forest Products Inc. 1996 Second Quarter Results.MONTREAL--(BUSINESS WIRE)--July 30, 1996--ALLIANCE FOREST(ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : ALP (language) ALP - A list processing extension of Mercury Autocode. ["ALP, An Autocode List-Processing Language", D.C. Cooper et al, Computer J 5:28-31, 1962]. ) Alliance Forest Products Inc. recorded net earnings of $17.7 million ($1.01 per common share) during the quarter ended June 30, 1996, compared with $17.8 million ($1.00 per common share) for the quarter ended June 30, 1995. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the period totalled $25.8 million, compared with $23.6 million in 1995. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight reached $111.0 million, compared with $88.8 million for last year's second quarter. For the six-month period ended June 30, net earnings amounted to $38.3 million in 1996 ($2.19 per common share), compared with $35.1 million in 1995 ($1.97 per common share). For the first six months of 1996, the Company generated $55.6 million in operating income, compared with $46.8 million in 1995. Net sales amounted to $223.5 million in 1996 and $171.5 million in 1995. "Newsprint newsprint low grade paper used for newspapers. Old newspapers are fed to cattle as an alternative roughage and may occasionally be ingested by dogs. Significant amounts of lead are accumulated in tissues; no cases of poisoning have been recorded in cattle, though it has been prices declined during the quarter, as did prices for uncoated groundwood papers, though to a lesser extent. That said, newsprint prices were still higher than during the second quarter of 1995. Alliance Forest Products Inc. and several major manufacturers plan downtime The time during which a computer is not functioning due to hardware, operating system or application program failure. in order to improve the balance between supply and demand and reduce inventories. It is worth noting that no production capacity increase is anticipated in North-America for 1996. The Company expects better market conditions before year-end" said Pierre Monahan, President and Chief Executive Officer of Alliance Forest Products Inc. "In the lumber lumber, term for timber that has been cut into boards for use as a building material. The major steps in producing lumber involve logging (the felling and preparation of timber for shipment to sawmills), sawing the logs into boards, grading the boards according to sector, despite a decrease at the end of the quarter, prices were significantly higher than for the first quarter of 1996 and the second quarter of 1995. The implementation of the recently-adopted Canada-U.S. agreement on Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. lumber exports to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. increased market volatility in this sector. That said, generally favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. economic conditions in Canada, United States and Japan lead the Company to expect firm demand on this market" he added. Capital expenditures during the quarter amounted to $32.4 million, compared with $10.4 million for the second quarter of 1995. Most of these expenditures went toward a project to convert part of the newsprint production to supercalendered papers in Dolbeau. Other capital expenditures were related to the development of the Dolbeau cogeneration cogeneration In power systems, use of steam for both power generation and heating. High-temperature, high-pressure steam from a boiler and superheater first passes through a turbine to produce power. plant project, which is mainly aimed at reducing our paper mill operating costs operating costs npl → gastos mpl operacionales . -0-
ALLIANCE Forest Products Inc.
Summary of financial statements
(Unaudited - In million of dollars, except for earnings per ~share)
Quarter ended 6 months ended
June 30 June 30
1996 1995 1996 1995
____________________________________________________________
Consolidated Earnings
____________________________________________________________
Sales 111.0 88.8 223.5 171.5 Operating income 25.8 23.6 55.6 46.8 Net financing income (expenses) (0.3) 0.8 (0.7) 1.3 Earnings before income taxes 25.5 24.4 54.9 48.1 Net earnings 17.7 17.8 38.3 35.1 Net earnings per common share 1.01 1.00 2.19 1.97 ____________________________________________________________ Consolidated Changes in Cash Resources ____________________________________________________________ Working capital provided by operations 24.0 23.3 50.9 46.2 Changes in non-cash working capital items 22.7 2.9 1.2 (2.1) Cash provided by operations 46.7 26.2 52.1 44.1 Cash used for investing activities (32.4) (61.7) (52.3) (70.4) Cash used for financing (1.0) --- (9.7) --- June 30, 1996 June 30, 1996 ____________________________________________________________ Consolidated Balance Sheet ____________________________________________________________ Total assets 424.9 347.0 Long-term debt 5.2 10.1 Total liabilities 92.3 87.6 Shareholders' Equity 332.6 259.4 CONTACT: Alliance Forest Products Inc. Dino Fuoco, 514/954-2118 INTERNET: http://www.alliance-forest.com |
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