Net sales for the quarter were $628.0 million, compared with $511.0 million for the third quarter of 1999. Bowater implemented a $50 per metric ton price increase for newsprint and a $30 per metric ton increase for market pulp during the quarter. Net income for the first nine months was $100.9 million on sales of $1.72 billion. This compares with net income of $58.3 million on sales of $1.61 billion. The improvement over the company's performance last year was due to higher prices for pulp and paper, combined with significantly lower operating costs. The company is setting a new goal to improve profitability by approximately $100 million per year, through cost reductions and productivity gains, to be implemented by the end of 2001.
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