Bear Island Paper Company, L.L.C. Press Release - 1st Quarter 2003.Business Editors GREENWICH Greenwich, borough, Greater London, England Greenwich (grĭn`īj, grĕn`–), outer borough (1991 pop. 200,800) of Greater London, SE England, on the Thames River. Manufactures include telephone equipment and underwater cable. , Conn.--(BUSINESS WIRE)--May 5, 2003 Bear Island Paper Company, L.L.C., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Brant-Allen Industries, Inc., today reported a net loss of $5,143,000 for the quarter ended March 31, 2003, compared to a net loss of $5,455,000 for the first quarter of 2002. Loss from operations for the first quarter of 2003 and 2002 was $1,999,000 and $2,339,000, respectively. Gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. for the three months ended March 31, 2003 and 2002 were $25,085,000 and $24,896,000, respectively. The Company experienced a slight increase in average selling prices The average sales price of goods or commodities. Especially used in the retail sector and technology distribution. of about 1% on volumes that remained fairly constant for the three months ended March 31, 2003 when compared to the same period in 2002. Total manufacturing costs on a per ton basis were comparable to the same period in 2002, with increases in the market prices of old newspapers offset by decreases in the per ton cost of power. Bear Island Paper Company is a producer of high quality 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 suitable for four-color four-col·or adj. Of or being an overprinting or photographic process in which three primary colors and black are transferred by four different plates or filters to a surface, reproducing the colors of the subject matter. printing whose customers include leading newspaper publishers in 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. .
BEAR ISLAND PAPER COMPANY, L.L.C.
CONDENSED STATEMENTS OF OPERATIONS
(IN THOUSANDS OF DOLLARS)
(unaudited)
THE FOLLOWING TABLE COMPARES 2003 AND 2002 FOR THE THREE
MONTHS PERIODS:
THREE MONTHS ENDED MARCH 31,
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2003 2002
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GROSS SALES $ 25,085 $ 24,896
COST OF SALES (26,808) (26,932)
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GROSS LOSS (1,723) (2,036)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (276) (303)
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LOSS FROM OPERATIONS (1,999) (2,339)
OTHER INCOME (DEDUCTIONS):
INTEREST EXPENSE (3,147) (3,119)
OTHER INCOME 3 3
----------- --------
NET LOSS $ (5,143) $ (5,455)
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