International Forest Products Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net earnings of CAD 9.7 million or CAD 0.21 per basic and diluted share compared to a loss of CAD 8.1 million or CAD 0.17 per basic and diluted share in the third quarter of 2008. The company reported operating loss before restructuring costs and asset write-downs of CAD 7.0 million and operating loss of CAD 10.4 million on total sales of CAD 105.2 million compared to operating loss before restructuring costs and asset write-downs of CAD 12.8 million and operating loss of CAD 14.1 million on total sales of CAD 112.0 million for the same period a year ago. Earnings before income taxes were CAD 9.84 million compared to loss before income taxes of CAD 13.23 million reported a year ago. Before restructuring costs, foreign exchange gains and other income, the company's net loss was CAD 7.4 million or CAD 0.16 per share as compared to a net loss of CAD 7.7 million or CAD 0.16 per share for the third quarter of 2008. Operating loss before restructuring costs was CAD 7.02 million compared to CAD 12.80 million reported a year ago. EBITDA for the quarter was at CAD 25.3 million compared to CAD 0.7 million for the third quarter of last year. Adjusted EBITDA for the quarter was CAD 3.6 million compared to CAD 0.1 million for the third quarter of last year. Capital expenditures, excluding changes in amounts accrued, were CAD 2.8 million compared CAD 28.3 million reported a year ago. Spending in the quarter was primarily related to CAD 2.1 million on road construction. The company used CAD 0.5 million to fund operations, after changes in working capital, compared to CAD 13.9 million cash used for the third quarter of 2008, which was impacted by working capital required by the addition of the Kootenay operations. Cash flow used in operations per share was CAD 0.07 compared to cash flow from operations per share of CAD 0.06 reported a year ago. Net debt ended the quarter at CAD 128.6 million or 26% of invested capital against CAD 162.8 million or 31% at the end of the second quarter of 2009. The company's total net debt has been reduced by CAD 39.2 million over this period. The impacts of the stronger Canadian dollar offset by the settlement of US dollar derivative contracts accounted for CAD 4.4 million of this reduction. For the nine months, the company reported net loss of CAD 18.9 million or CAD 0.40 per basic and diluted share compared to a net loss of CAD 36.7 million or CAD 0.78 per basic and diluted share for the first nine months of 2008. Before restructuring costs, foreign exchange gains and other income, the company's net loss was CAD 35.8 million or CAD 0.76 per share as compared to a net loss of CAD 13.8 million or CAD 0.29 per share in the corresponding period in 2008. EBITDA was CAD 10.3 million compared to CAD 11.7 million for the corresponding period in 2008. Adjusted EBITDA was negative CAD 12.1 million compared to CAD 10.6 million for the same periods in 2008. The company reported operating loss before restructuring costs of CAD 38.68 million, operating loss of CAD 42.99 million and loss before income taxes of CAD 25.43 million on total sales of CAD 264.27 million compared to operating loss before restructuring costs of CAD 25.45 million, operating loss of CAD 59.56 million and loss before income taxes of CAD 58.13 million on total sales of CAD 343.73 million for the same period a year ago. The company generated CAD 17.4 million cash from operations, after changes in working capital, compared to CAD 16.3 million cash generated in the first nine months of 2008. Capital expenditures, excluding changes in amounts accrued, were CAD 20.2 million compared CAD 63.0 million reported a year ago. Spending related primarily to the construction of the new Adams Lake sawmill totaled CAD 15.4 million and CAD 3.2 million on road construction. In the third quarter of 2009, the company recorded CAD 3.1 million in asset write-downs as it determined certain assets were impaired in the current operating environment.

International Forest Products Ltd., Q3 2009 Earnings Call, Oct 23 2009

International Forest Products Ltd. expected to Report Fiscal Year 2009 Results on February 8, 2010. This event was calculated by Capital IQ (Created on September 22, 2009).