03:47 PM EST - Algoma Central Corp. : posted third-quarter net earnings of $20.6 million or $5.30 per share compared with $18.5 million or $4.76 per share in the same quarter last year. The increase in net earnings for the quarter ended September 30, 2009 of $2,097 when compared to the same prior year period was due primarily to an increase in net foreign exchange gains on the translation of foreign denominated assets and liabilities. This increase was partially offset by lower operating earnings net of income tax in all the business units and an increase in financing costs due to higher borrowings and rates. Revenue for the quarter declined to $151.45 million from $226.83 million in the prior-year period. Algoma Central Corp.
shares T.ALC are trading even at $72.00.
