Bear Island Paper Company, L.L.C. Reports 3rd Quarter 1998 Results.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)--Oct. 30, 1998--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 net income of $1,795,765 for the three months and $5,335,601 for the nine months ended Sept. 30, 1998. These 1998 results represent the third full quarter of operations of the Company following Brant-Allen's acquisition of the 70% interest of Bear Island Paper Company, L.P. (the Company's Predecessor predecessor - parent ) not previously owned by Brant-Allen. The Company's Predecessor reported net income of $1,283,451 for the three months and $1,803,723 for the nine months ended Sept. 30, 1997. Income from operations for the three months ended Sept. 30, 1998 and 1997 for the Company and the Company's Predecessor was $6,301,278 and $2,290,088, respectively and for the nine months ended Sept. 30, 1998 and 1997, the Company and the Company's Predecessor had income from operations of $19,464,099 and $4,918,410, respectively. Sales for the three months ended Sept. 30, 1998 were $31,025,907 compared to sales of the Company's Predecessor of $29,482,270 for the same period in 1997. Sales for the nine months ended Sept. 30, 1998 and 1997 for the Company and the Company's Predecessor were $92,530,816 and $85,372,576 respectively. The increase in 1998's sales over the 1997 sales resulted primarily from higher selling prices. The 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. . |
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