Bear Island Paper Company Announces 4Q04 Earnings.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. -- 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 $912,000 for the fourth quarter ended December December: see month. 31, 2004, compared to a net loss of $3,694,000 for the fourth quarter of 2003. Income (Loss) from operations for the fourth quarter of 2004 and 2003 was $2,518,000 and ($294,000), respectively. 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 for the three months ended December 31, 2004 and 2003 were $31,467,000 and $28,584,000, respectively. Results for the quarter ended December 31, 2004 compared with the fourth quarter of 2003 were favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. impacted by a 10% increase in average per ton selling prices of 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 . For the twelve months ended December 31, 2004, the Company reported a net loss of $ 6,275,000 compared to a net loss of $ 17,975,000 for the same period in 2003. Income (Loss) from operations for the twelve months ended December 31, 2004 and 2003 was $7,389,000 and $(5,126,000) respectively. Net sales for the twelve months ended December 31, 2004 and 2003 were $ 121,380,000 and $103,087,000, respectively. Results for the twelve months ended December 31, 2004 compared with the same period in 2003 were favorably impacted by an 11% increase in average per ton selling prices of newsprint, and a 6% increase in volume of newsprint sold. Bear Island Paper Company is a producer of high quality newsprint 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. .
THE FOLLOWING TABLE COMPARES 2004 AND 2003 FOR THE THREE
AND TWELVE MONTHS PERIODS:
BEAR ISLAND PAPER COMPANY, L.L.C.
CONDENSED STATEMENTS OF OPERATIONS
(IN THOUSANDS OF DOLLARS)
(unaudited)
THREE MONTHS ENDED DECEMBER 31,
-------------------------------
2004 2003
---- ----
NET SALES $ 31,467 $ 28,584
COST OF SALES (28,522) (28,308)
--------- ---------
GROSS PROFIT (LOSS) 2,945 276
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (427) (570)
--------- ---------
INCOME (LOSS) FROM OPERATIONS 2,518 (294)
OTHER INCOME (DEDUCTIONS):
INTEREST EXPENSE (3,437) (3,401)
OTHER INCOME 7 1
--------- ---------
NET (LOSS) $ (912) $ (3,694)
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TWELVE MONTHS ENDED DECEMBER 31,
--------------------------------
NET SALES $ 121,380 $ 103,087
COST OF SALES (112,672) (106,770)
--------- ---------
GROSS PROFIT(LOSS) 8,708 (3,683)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (1,319) (1,443)
--------- ---------
INCOME (LOSS) FROM OPERATIONS 7,389 (5,126)
OTHER INCOME (DEDUCTIONS):
INTEREST EXPENSE (13,682) (13,570)
OTHER INCOME 18 721
--------- ---------
NET (LOSS) $ (6,275) $ (17,975)
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