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UPDATE: Fortress Paper Up Nearly 5%, Moves Away From Near Yr Lows as Announces Second Quarter 2011 Results

Fortress Paper Ltd. (FTP.TO) has jumped close to 5% and moved away from near year low levels after reporting 2011 second quarter EBITDA of $4.6 million on sales of $90.3 million. For the first quarter of 2011 EBITDA was $1.0 million on sales of $85.5 million and for the three months ended June 30, 2010 EBITDA was $8.3 million on sales of $60.5 million.

Fortress, an international producer of security and other specialty papers and products, reported adjusted net loss of $1.0 million for the second quarter of 2011 or diluted adjusted loss per share of $0.07. In the first quarter of 2011 the company reported adjusted net loss of $5.6 million or diluted adjusted loss per share of $0.42. For the second quarter of 2010 the company reported adjusted net income of $4.5 million or diluted adjusted earnings per share of $0.39.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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