Cascades Inc. reported a net loss of $6 million for the most recent quarter, compared to net earnings of $16 million for the same period in 2003.
The company also reported that sales decreased by 3.2 percent during the quarter, amounting to $870 million compared to $899 million for the same period last year.
Commenting on the results, Alain Lemaire, president and CEO stated: "The company has continued efforts to control costs to better respond to difficult market conditions and with the reality of an appreciated Canadian dollar. These initiatives and managerial skills are key factors which help Cascades' operations to generate positive cash-flow through these difficult and challenging times. As current economic indicators appear more favorable for paper and packaging companies, we are confident that these efforts will be complemented by the gradual implementation of recently announced price increases in most of our operating sectors."
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