05.11.15
Domtar Corporation reported net earnings of $36 million for the first quarter of 2015 compared to net earnings of $71 million for the fourth quarter of 2014 and net earnings of $39 million for the first quarter of 2014. Sales for the first quarter of 2015 were $1.3 billion.
“Results were impacted by anticipated price declines in pulp and paper,” says John D. Williams, president and CEO. “Nonetheless, our paper volumes were strong with good demand across most product groups; we operated at near capacity resulting in strong productivity, which offset the impact of some weather related costs. During the quarter, we announced an increase to our share repurchase program and dividend which reflects our confidence in the execution of our growth strategy and continuing ability to generate cash flow.
“In personal care, we delivered another quarter of steady progress despite a $3 million currency headwind. Same currency sales increased 3% year over year while adult incontinence volumes grew mid-single digits. We also further advanced on production and in-source savings from our new manufacturing platform. I am pleased with our overall progress but we have more work to do to deliver the sales growth and cash productivity the business is capable of delivering.”
“Results were impacted by anticipated price declines in pulp and paper,” says John D. Williams, president and CEO. “Nonetheless, our paper volumes were strong with good demand across most product groups; we operated at near capacity resulting in strong productivity, which offset the impact of some weather related costs. During the quarter, we announced an increase to our share repurchase program and dividend which reflects our confidence in the execution of our growth strategy and continuing ability to generate cash flow.
“In personal care, we delivered another quarter of steady progress despite a $3 million currency headwind. Same currency sales increased 3% year over year while adult incontinence volumes grew mid-single digits. We also further advanced on production and in-source savings from our new manufacturing platform. I am pleased with our overall progress but we have more work to do to deliver the sales growth and cash productivity the business is capable of delivering.”