Tembec posts Q3 earnings

MONTREAL —Tembec reported consolidated sales of $376 million in Q3, compared to $365 million in the same quarter a year ago. The forestry and paper company generated net earnings of $9 million or $0.09 per share, compared to a net loss of $16 million or $0.16 per share last year. Lumber sales increased by $3 million due to higher prices and shipments. Sales of logs declined by $9 million as there is normally less activity in the spring months. In response to relatively low stud lumber prices, the Company suspended operations the Senneterre, Quebec, sawmill in early February, removing approximately 14 million board feet of production in Q2 and a further 20 million board feet in Q3. Sawmill manufacturing costs were relatively unchanged quarter-over-quarter.