Bowater Reports Smaller Loss

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(AP) Bowater Inc. reported a smaller loss for the second quarter of the year even as newsprint shipments declined.

The loss of $1.3 million, or 2 cents a share, compares with a net loss of $25.7 million, or 45 cents a share, for the same period in 2003.

Excluding items such as gains related to asset sales and foreign currency changes, the company said its net loss was $14.9 million, or 26 cents a share. That’s slightly larger than the 24 cent loss forecast by analysts surveyed by Thomson First Call.

Sales increased to $788 million in the second quarter from $664.1 million a year ago.

“Overall, our customers’ businesses are healthier, and there is positive momentum in pricing for our products. We expect further improvement in operating results throughout the balance of the year,” said Arnold M. Nemirow, chairman, president and chief executive.

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