Interfor Corporation (“Interfor”) recorded a net loss of $103.8 million, or $1.54 per share, in 2019, compared to net earnings of $111.1 million, or $1.59 per share in 2018. Adjusted EBITDA was $63.4 million on sales of $1.9 billion.
Interfor recorded a net loss in Q4 2019 of $41.7 million, or $0.62 per share, compared to $35.6 million, or $0.53 per share in Q3 2019 and $13.5 million, or $0.20 per share in Q4 2018.
Adjusted net loss in Q4 2019 was $17.4 million compared to $11.8 million in Q32019 and $20.2 million in Q4 2018.
Adjusted EBITDA was $17.6 million on sales of $456.8 million in Q4 2019 versus $16.8 million on sales of $486.5 million in Q3 2019. Included in the Company’s results for Q4 2019 are $22.7 million (after-tax) for capital asset write-downs and restructuring costs, or $30.4 million on a pre-tax basis.
This includes $13.1 million of non-cash impairments for goodwill related to the reconfiguration of the company’s B.C. Coastal business and $16.1 million of non-cash asset impairments on assets in the U.S. Northwest business to reflect their fair value, as well as cash costs of $1.2 million for discontinued operations.
Interfor is a growth-oriented forest products company with operations in Canada and the United States.
