Norampac, TI earnings up, Weyco earnings down.(SECOND QUARTER)
Official Board Markets, July, 2006
Norampac Inc., Saint-Bruno, Quebec, reports a net income of $32.7 million or $28.3 million excluding specific items for the quarter ended June 30. This compares to a net income of $6.7 million or $12.3 million excluding specific items for the same period in 2005. As a result of a progressive Canadian corporation income tax rate reduction introduced in the May Federal budget, the net income for the second quarter of 2006 includes a non-recurring $11.5 million deferred income taxes recovery.
"Despite the continued strength of the Canadian dollar, we succeeded in improving our profitability due to the recent price increases for our products combined with lower fiber and freight costs," President and CEO Marc-Andre Depin says. "Also, decisions taken last...
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