| Bowater, the maker of newsprint and specialty paper, reported revenue decline of 14% to $771.6 million, failing to meet the analysts’ expectations of $828.5 million. Excluding special items, such as a $35.9 million gain on an asset sale and a $12.3 million charge related to tax adjustments, the company lost $48.6 million. Bowater announced that paper machine no. 4 at its Thunder Bay, Ontario facility will resume operation during May 2007. |
