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Exhibit 99.1
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395 de Maisonneuve Blvd. West Montreal, QC H3A 1L6 | |
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TICKER SYMBOL | MEDIA AND INVESTOR RELATIONS | |||||||||
(NYSE: UFS) (TSX: UFS) | Pascal Bossé Vice-President Corporate Communications and Investor Relations Tel.: 514-848-5938 |
DOMTAR CORPORATION REPORTS PRELIMINARY FOURTH QUARTER AND FISCAL YEAR 2011 FINANCIAL RESULTS
Good financial results despite softness in global pulp markets
(All financial information is in U.S. dollars, and all earnings per share results are diluted, unless otherwise noted.)
| Fourth quarter 2011 net earnings of $1.63 per share, earnings before items1 of $2.49 per share |
| Personal care segment delivers financial performance in line with expectations |
| Share buyback totaled $494 million in 2011; share count reduced by 14% from December 2010 |
Montreal, February 3, 2012 Domtar Corporation (NYSE: UFS) (TSX: UFS) today reported net earnings of $61 million ($1.63 per share) for the fourth quarter of 2011 compared to net earnings of $117 million ($2.95 per share) for the third quarter of 2011 and net earnings of $325 million ($7.59 per share) for the fourth quarter of 2010. Sales for the fourth quarter of 2011 amounted to $1.4 billion. Excluding items listed below, the Company had earnings before items1 of $93 million ($2.49 per share) for the fourth quarter of 2011 compared to earnings before items1 of $123 million ($3.10 per share) for the third quarter of 2011 and earnings before items1 of $103 million ($2.41 per share) for the fourth quarter of 2010.
Fourth quarter 2011 items:
| Closure and restructuring costs of $38 million ($23 million after tax), mostly related to the restructuring of certain U.S. pension benefit plans; and |
| Charge of $12 million ($9 million after tax) related to the impairment and write-down of property, plant and equipment. |
Third quarter 2011 items:
| Gains on the sale of property, plant and equipment of $4 million ($3 million after tax); |
| Charge of $8 million ($4 million after tax) related to the impairment and write-down of property, plant and equipment; |
1 | Non-GAAP financial measure. Refer to the Reconciliation of Non-GAAP Financial Measures in the appendix. |
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Domtar Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2012 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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Domtar Corp provided additional information to their SEC Filing as exhibits
Ticker: UFS
CIK: 1381531
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-081965
Submitted to the SEC: Mon Feb 27 2012 5:15:09 PM EST
Accepted by the SEC: Mon Feb 27 2012
Period: Saturday, December 31, 2011
Industry: Paper Mills