Business
KP Tissue Releases its Financial Results and those of Kruger Products L.P. for the Fourth Quarter and Full Year 2012 and Declares First Dividend
MISSISSAUGA, ON, March 27, 2013 /CNW Telbec/ - KP Tissue Inc. ("KPT") (TSX: KPT), which holds...
About this update from Kp Tissue, Inc.
[{"type":"text","content":"\n\n\n\n\n\nMISSISSAUGA, ON, March 27, 2013 /CNW Telbec/ - KP Tissue Inc. (\"KPT\")\n (TSX: KPT), which holds a limited partnership interest in Kruger\n Products L.P. (\"KPLP\"), releases the financial results for KPT and KPLP\n for the fourth quarter and full year 2012. KPLP is Canada's leading\n manufacturer of quality tissue products for household, industrial and\n commercial use. In connection with KPT's undertaking with the Ontario\n Securities Commission to treat KPLP as a subsidiary and to allow the\n reader to fully understand the financial results of KPT, the following\n provides discussion and analysis of KPLP's consolidated financial\n results.\n\n\nKP Tissue Inc. and Kruger Products L.P.\nKPT was created to acquire, and its business is limited to holding, a\n limited partnership interest in KPLP. On December 13, 2012, KPT\n completed an initial public offering of 8 million common shares and\n used the proceeds to acquire a 15.7% interest in KPLP. On January 10,\n 2013, KPT completed the issuance of an additional 750,000 common shares\n pursuant to the Over-Allotment Option and used the proceeds to\n subscribe for 750,000 additional units of KPLP which, together with the\n units of KPLP that it already held, resulted in KPT having a 16.9%\n interest in KPLP on that date. However, as of December 31, 2012, KPT\n continued to hold a 15.7% interest in KPLP, accounted for as an\n investment on the equity basis. The financial results presented for KPT\n represent its holding in KPLP of 15.7% only for the period from\n December 13, 2012 to December 31, 2012. The following discussion and\n analysis, unless identified specifically as representing the financial\n results of only KPT, relates entirely to the financial results of KPLP.\n Accordingly, the results of KPLP apply to KPT only to the extent of its\n holding in KPLP.\n\n\nKP Tissue Inc. Highlights\n\n\n\nNet income of $0.2 million in Q4 2012 and fiscal 2012 for the period\n from the initial public offering on December 13, 2012 to December 31,\n 2012\n\n\nEarnings per share of $0.02 in Q4 2012 and fiscal 2012\n\n\nDeclaration of first dividend of $0.217 per share, consisting of $0.18\n per share pertaining to the first quarter of 2013 and $0.037 per share\n for the period from December 13, 2012 to December 31, 2012\n\n\n\n\n\n\nKPLP Highlights\n\n\nQ4 2012 Highlights\n\n...