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Article: Arbec Forest Products announces its financial results for the first quarter of 2006 and the convening of a special meeting of the shareholders on June 27, 2006 to authorize a going private transaction.
- Article from:
- PR Newswire
- Article date:
- May 12, 2006
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SAINT-LEONARD, QC, May 12 /PRNewswire-FirstCall/ -- Arbec Forest Products Inc. announces a net loss of $4.3 million ($0.06 per share) for its first quarter of 2006, compared to a net loss of $0.1 million ($0.002 per share) for the corresponding period in 2005. Financial results for the first quarter of 2006 include an unusual gain of $3.5 million resulting from the redemption prior to maturity of the Senior Convertible Notes Series "B" on March 15, 2006. Excluding this unusual gain, the Company would have suffered a net loss of $7.8 million ($0.12 per share) for the first quarter of 2006.
Sales totalled $36.2 million to show a decline of 15.7% from those of the ...