Papermaker in the red for Q1.Suffering from the strain of a stronger loonie Loonie A slang term for a Canadian dollar. It is derived from the picture of a loon on one side of the coin. Notes: Just like in the U.S. where the dollar is referred to as the "greenback", the loonie is a often used to refer to the Canadian dollar. and increasing overhead costs overhead costs see fixed costs. , pulp and paper producer Domtar posted a net loss of $24 million for the first quarter of 2006. The loss reverses the $10 million in profit the Montreal-based company experienced a year ago. It translates to a hit of 10 cents per diluted share, as opposed to the net earnings of four cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. Domtar posted this time last year. In spite of the current numbers the company says this quarter has improved compared to Q4-2005, when they posted a $348 million loss, its worse quarter in a decade, as it took a $400 million hit resulting from a mill closure in Cornwall, Ontario. "With the ongoing efforts of our employees we are implementing a series of measures aimed at improving cash flow, and supply chain initiatives that are expected to reduce operational costs and improve satisfaction," says Domtar's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Raymond Royer. |
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