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TMB.to beat estimates by .04 (Reuters)

http://www.reuters.com/article/idCAN2712521520100428?rpc=44

Canada's Tembec breaks even in Q2
Wed Apr 28, 2010 9:49am EDT

* Q2 breakeven/shr vs est loss C$0.04/shr

* Sales rise 14 pct

* Results helped by higher lumber, pulp prices

April 28 (Reuters) - Forestry company Tembec Inc (TMB.TO) broke even in its second quarter ended March 27, helped by higher lumber and pulp prices.

Three analysts surveyed by Thomson Reuters I/B/E/S had, on average, forecast a loss of 4 Canadian cents a share for the newsprint, pulp and lumber producer. The predictions ranged from a profit of 1 cent per share to a loss of 11 cents per share.

The company said it broke even in the quarter and had sales of C$476 million, compared with C$417 million a year ago.

Tembec posted a loss of C$99 million, or 99 Canadian cents a share, in the comparable three-month period a year earlier, when it completed a refinancing.

Lumber prices are at four-year highs, which will allow a cut next month in the export tax Canadian companies pay on shipments to the United States. [ID:nN23202613]

Shares of the company were trading down 4 percent at C$2.60 Wednesday morning on the Toronto Stock Exchange. They closed at C$2.72 Tuesday. (Reporting by Isheeta Sanghi in Bangalore; Editing by Roshni Menon)