Avenor Announces First Quarter Results (Part 2 of 2 - Financial Tables).MONTREAL--(BUSINESS WIRE)--April 23, 1996--AVENOR INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AVR (Automatic Voltage Regulation) See voltage regulator. ) -0-
ADDITIONAL CONSOLIDATED FINANCIAL INFORMATION
STATEMENT OF EARNINGS
First quarter
3 months ended March 31
(unaudited)
(in millions of dollars,
except per share amounts and
number of shares) 1996 1995
____________________________________________________________
Sales $ 625.4 $ 673.0
Cost of delivery 48.0 57.2
Cost of sales 413.4 397.9
Amortization 40.7 38.4
Selling and administrative expenses 15.7 15.3
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Operating earnings 107.6 164.2
____________________________________________________________
Interest expense, net 28.7 35.2
Other expense 6.5 0.1
Income taxes 28.4 52.2
Non-controlling interest 3.8 10.3
____________________________________________________________
Net earnings $ 40.2 $ 66.4
____________________________________________________________
____________________________________________________________
Basic earnings per common share
Net earnings $ 0.60 $ 0.99
____________________________________________________________
____________________________________________________________
Fully diluted earnings per common share
Net earnings $ 0.56 $ 0.92
____________________________________________________________
____________________________________________________________
Weighted average number of outstanding
common shares (in millions) 66.9 67.1
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____________________________________________________________
OTHER
First quarter
3 months ended March 31
(unaudited)
(in millions of dollars) 1996 1995
____________________________________________________________
Cash from operations $ 99.9 $ 151.1 Cash used in investing activities 53.8 13.2 Cash used in financing activities 148.8 26.7 Assets 3,601.6 3,305.5 Long-term debt 1,411.1 1,639.8 Convertible debentures and Shareholders' equity 1,378.0 1,103.0 Ratio of net total debt to capitalization (percent) 43.3 57.7 ____________________________________________________________ ____________________________________________________________
ADDITIONAL CONSOLIDATED FINANCIAL INFORMATION
SEGMENTED INFORMATION
SUMMARY OF SHIPMENTS
First quarter
3 months ended March 31
(unaudited)
(in thousands of tonnes) 1996 1995
____________________________________________________________
Newsprint 307 304
Pulp 134 211
White paper 80 79
Wood products
Logs (in thousands of m3) 213 166
Lumber (in millions of board feet) 87 81
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SALES
First quarter
3 months ended March 31
(unaudited)
(in millions of dollars) 1996 1995
____________________________________________________________
Newsprint $ 323.7 $ 243.1 Pulp 114.1 214.2 White paper 99.8 105.4 Wood products 89.2 110.2 Other (1.4) 0.1 ____________________________________________________________ Total $ 625.4 $ 673.0 ____________________________________________________________ ____________________________________________________________ OPERATING EARNINGS (LOSS)
First quarter
3 months ended March 31
(unaudited)
(in millions of dollars) 1996 1995
____________________________________________________________
Newsprint $ 99.6 $ 38.1 Pulp (8.8) 64.4 White paper 19.4 35.3 Wood products 3.6 32.4 Other 0.3 (0.3) Corporate expenses (6.5) (5.7) ____________________________________________________________ Total $ 107.6 $ 164.2 ____________________________________________________________ ____________________________________________________________ CONTACT: Avenor Av´e`nor n. 1. See Avener. Inc. Denis Denis, king of Portugal: see Diniz. Aubin Au´bin n. 1. A broken gait of a horse, between an amble and a gallop; - commonly called a Canterbury gallop ltname>. , 514/846-5129 or Avenor Inc. Dominique Dom·i·nique also Dom·i·nick n. One of a breed of American domestic fowl having gray, barred plumage, yellow legs, and a rose-colored comb. [After Dominica.] Noun 1. Dionne, 514/846-5061 Emmanuelle
n. 1. A very pure form of gelatin. , 514/846-5061 |
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