Without the one-time gains, last year's net income would have been about $143 million.

Earnings would have been up 4 percent in the three months ended March 31 without the one-time gain a year earlier, the company said.

But the 1994 quarter included a one-time gain of $200 million.

The earnings are expected to include one-time gains of $:11 million.

The 1999 result includes a one-time gain of 39 million Canadian dollars.

Net income, however, fell 15 percent after a big one-time gain a year earlier.

The figure from the 1994 period includes a one-time gain of L16 million.

But if one-time gains are excluded, the company actually had a loss for the period of $7.9 million.

The company said income in the first quarter of 1989 had been helped by a one-time gain.

But it had a 69 percent drop in net because of a one-time gain a year ago.