Tembec posts Q4 losses on higher sales

MONTREAL — Tembec reported consolidated sales of $373 million, compared to $371 million a year ago, but generated a net loss of $32 million or $0.32 per share compared to net earnings of $5 million or $0.05 per share. The current results include a non-cash loss of $38 million related to the translation of US dollar denominated debt. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $36 million for the three-month period ended September 26, 2015, as compared to adjusted EBITDA of $29 million a year ago and adjusted EBITDA of $2 million in the prior quarter.