November 3, 2011 / 9:20 PM / in 7 years

UPDATE 1-Mercer Q3 falls on weak prices, lower pulp output

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Nov 3 (Reuters) - Mercer International MRIu.TO posted lower quarterly results, hurt by weak pulp prices and a fall in pulp output due to unplanned maintenance downtime at a mill.

July-September net income was 8.4 million euros ($11.6 million), or 15 euro cents per diluted share, compared with 46.1 million euros, or 82 euro cents per diluted share, a year ago.

Revenue fell 13 percent to 204.8 million euros.

Analysts, on average, had expected earnings of 29 euro cents per share on revenue of 221.5 million euros.

“Despite uncertainties surrounding the global economy, we believe that our improved liquidity position, increasing energy revenues and continued strong performance of our mills should enable us to generate strong returns,” Mercer chairman Jimmy Lee said in a statement.

Mercer produces and markets northern bleached softwood kraft (NBSK), the paper industry’s benchmark for pulp.

The company’s U.S-listed shares were down 4 percent in after-market trade at $6.55. They had closed at $6.80 on Thursday. ($1 = 0.725 Euros) (Reporting by Gowri Jayakumar in Bangalore; Editing by Sriraj Kalluvila)

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