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Harsh weather hurts Clearwater Seafoods

Seafood manufacturer maintains positive outlook for fiscal 2015

Clearwater Seafoods  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.''

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