Fortress Paper Ltd. Reports Unaudited Earnings Results for the Second Quarter of 2017
Fortress Paper Ltd. reported unaudited earnings results for the second quarter of 2017. For the quarter, the company reported sales were $86,599,000 compared to $87,993,000 a year ago. Operating EBITDA was $4,289,000 compared to $87,993,000 over the previous quarter. Net loss was $2,087,000 compared to $6,893,000 a year ago. Adjusted net loss was $8,193,000 compared to $6,921,000 a year ago. The $9.7 million capital expenditure in the quarter was primarily split between the finishing line at Landqart and the digester 5 project at Thurso. That does not include $4 million in grants that were received.