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KP Tissue swings to loss in fiscal Q3


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KP Tissue swings to loss in fiscal Q3

KP Tissue Inc. said its normalized net income for the fiscal third quarter ended Sept. 27 was a loss of 17 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 10 cents per share.

The per-share result swung to a loss from the prior-year profit of 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$1.5 million, compared with income of C$771,880 in the prior-year period.

Reported net income came to a loss of C$2.0 million, or a loss of 22 cents per share, compared to income of C$687,000, or 8 cents per share, in the prior-year period.