Tembec posts 3-Q improvement, but not thrilled with results.(IN BRIEF)(Financial report)

Tembec posted a third-quarter loss of $27 million, or 27 cents per share, compared to a net loss of $164 million during the same period in 2007.

Consolidated sales from the three-month period ending June 28 were $609 million from $712 million during the last year's third quarter results.

The Temiscaming, Que.-based pulp and paper producser says despite the improvement over last year's numbers, the results are "well below acceptable level."

Low lumber prices continue to depress earnings and there's no clear signs of a U.S. housing recovery. Pulp markets are stable and newsprint prices show slight improvement.

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