Intertape Polymer profits down in Q3

MONTREAL — Intertape Polymer Group reported that Q3 net earnings fell by $9.4 million to $6.3 million, primarily due to higher expenses and manufacturing facility closure charges, but partially offset by a decrease in income tax expense and an increase in gross profit. The company estimates that its net earnings for the quarter were negatively impacted by the South Carolina flood by approximately $5 million.