Search
'One vice at a time' should be the statutory warning. Trying two together — lighting up over a glass of alcohol — could be a spirited attempt, but it could turn too fiery to handle.
(NYSE: CNL) will host a live webcast of its 2009second-quarter earnings conference call at 11 a.m Eastern Time (10 a.m.Central Time) on Thursday, Aug 6, 2009. To listen to the live webcast,go to the company's Web site at , select "For Investors" and"Cleco Corporation Second-Quarter Earnings Conference Call."The call will follow distribution of the company's second-quarter earningsnews release after the market closes on Wednesday, Aug. ($1=$1.10 Canadian) (Reporting by Allan Dowd, Editing by Peter Galloway) Stocks Bonds. The financial results were released after a second marketsession in which West Fraser's share price has jumped sharply,despite what one analyst said was a lack of news to push it up.The stock closed at C$24.39, up 11.4 percent, on Tuesday.
Ketcham said the company will concentrate on conservingcash until "clear signs of recovery are evident" West Frasercut its dividend during the quarter. "Our results reflect the continuing very poor economicenvironment that has significantly reduced home construction inNorth America and reduced the demand for our pulp and paperproducts," Chief Executive Hank Ketcham said. West Fraser, which has lumber mills in Western Canada andthe southern United States, as well as pulp and paperoperations in Canada, said sales in the quarter were C$667million, down from C$892 million a year earlier. Analysts surveyed by Reuters Estimates had, on average,expected a net loss of C$1.28 per share, with individualpredictions ranging from a loss of 75 Canadian cents a share toa loss of C$1.69 a share. Its netresults included a C$30 million foreign exchange gain on debtand C$18 million recovery on income taxes.
The company's operating loss was C$75 million, comparedwith an operating profit of C$5 million a year earlier. West Fraser lost C$39 million ($35.5 million), or 91Canadian cents a share, in the second quarter. That comparedwith a net profit of C$3 million, or 8 Canadian cents a share,in the year-before quarter. In reporting its results the Canadian company cautionedthat while there have been some indications of a recovery inthe housing market, it still thinks it will take a generaleconomic rebound for lumber prices to rebound. VANCOUVER, British Columbia, July 21 (Reuters) - Toughlumber and pulp markets pushed West Fraser Timber Co Ltd(WFT.TO), North America's largest softwood lumber producer,into quarterly net loss on Tuesday despite an exchange gain ondebt and a tax recovery. * C$39 million net loss, C$75 million operating loss Stocks | Bonds * Says conserving cash until clear signs of recovery.
- In: General