Clearwater Q1 loss more than doubles to $28.3M; cites harsh weather at sea, land

HALIFAX – Clearwater Seafoods (TSX:CLR) says its first-quarter net loss more than doubled to $28.3 million from the comparable year-earlier period as difficult weather conditions both at sea and on land hampered operations.

The loss, equal to 57 cents per share, compared with a loss of $12.1 million or 27 cents in the year-earlier period.

Sales were down slightly at $75.4 million from $77.7 million, due to reduced levels of supply available for sale.

Meanwhile, Clearwater said it had a positive outlook for fiscal 2015, with expectations that strong market conditions in all key regions would continue for the balance of the year, “positively impacting both sales price and volumes with harvest conditions and volumes sold picking up in the latter half of the year.”