Asset Impairment Overshadows Catalyst Paper’s Improved Financial Results

Earnings before interest, taxes, depreciation and amortization (EBITDA) were $26.8 million in the third quarter. This was an improvement from negative EBITDA of $3.9 million in the second quarter. There were no re-structuring costs in either quarter. The benefits of higher EBITDA were however more than offset by the Snowflake-related impairment charge, and resulted in a third-quarter operating loss of $151.6 million, compared to an operating loss of $30.6 million in the second quarter.