Adjusted earnings before income, taxes, depreciation and amortization EBITDA increased 20.1 percent, to $11 million ($10.3 million/€7.6 million), despite lower sales and volume (measured in pounds) compared to the fourth quarter of 2008, Canada-based High Liner said.
Fourth-quarter sales were $148.8 million ($139.8 million/€103.4 million), down from $177.4 million ($166.9 million/€123.4 million) in the fourth quarter of 2008, as sales volume fell 11.3 percent to 42.8 million pounds.
A stronger Canadian dollar in the fourth quarter of fiscal 2009 -- and the inclusion of a 14th week of results in the fourth quarter of fiscal 2008, compared to 13 weeks in fiscal 2009 -- accounted for most of the difference in reported sales for the quarter, the company said Wednesday.
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