February 15, 2008 / 1:14 PM / 10 years ago

Domtar swings to loss

TORONTO (Reuters) - Domtar Corp (UFS.TO) posted a fourth-quarter loss on Friday due to lower selling prices, higher shipping costs and the high Canadian dollar.

Domtar reported a loss of $26 million, or 5 cents a share for the fourth quarter, compared with a profit of $102 million, or 36 cents per share for the same quarter a year earlier.

Excluding items related to goodwill, lawsuit and insurance claim settlements and debt restructuring, among other things, the company said it earned $29 million, or 6 cents a share.

Domtar said the stronger Canadian dollar cut into earnings by around 2 cents per diluted share in the fourth quarter compared with the third quarter.

Domtar, the largest integrated producer of uncoated freesheet paper in North America, said it expects paper volumes to stay relatively steady when compared with 2007.

The company started its operations in March 2007 following the combination of the Weyerhaeuser Fine Paper Business and Domtar Inc. The results reported for 2006 include only the results of operations of the Weyerhaeuser Fine Paper Business.

Reporting by John McCrank; Editing by Scott Anderson

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