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EACOM REPORTS FINANCIAL RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2010
EACOM REPORTS FINANCIAL RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2010
About this update from Etruscus Resources Corp.
[{"type":"text","content":"\n\n\n\n Nov. 29, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Nov. 29 /CNW Telbec/ - EACOM Timber Corporation (TSX VENTURE: ETR; "EACOM" or the "Company")\n today reported its first quarter of results since acquiring Domtar's\n forest products business on June 30, 2010. \n\n\nDuring the quarter, low lumber prices and a strong Canadian dollar\n negatively impacted operations. The Company reported a negative EBITDA\n after excluding specific items (inventory valuation adjustments and\n stock based compensation) of $5.4 million.  Also included in these\n operating results are holding costs of approximately $1.5 million\n related to idled and non-operating mills.  If these holding costs are\n also excluded, the resulting negative EBITDA after excluding specific\n items would have been $3.9 million.\n\n\nOperating Results\nSales for the quarter were $73.6 million on shipments of approximately\n 150 million board feet. The benchmark prices for great lakes delivery,\n for random lengths two and better and studs averaged US$316 and US$283\n per thousand board feet, respectively, down significantly from earlier\n in the year.  Price declines were seen for all dimensions and grades\n but were particularly notable for studs.\n\n\nProduction for the quarter was 130 million board feet representing about\n 58% of capacity.  EACOM recorded an inventory valuation adjustment of\n $1.7 million as a result of a write down of lo...