Resolute’s profits are down in the second quarter of 2013
By Wood Business
Resolute announced a net loss of $43 million for the quarter ended June 30, 2013, or $0.45 per share, on sales of $1.1 billion. This compares with a net loss of $17 million, or $0.17 per share, on sales of $1.2 billion in the second quarter ended June 30, 2012.
"We faced softer pricing conditions overall in the second quarter, but we preserved margin with efficiencies and cost reductions," said Richard Garneau, president and chief executive officer. "Our continued focus on operational excellence in our streamlined asset base makes us competitive even in environments like those facing our industry today."
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