May 14, 2012. /Lesprom Network/. Verso Paper’s net sales for the 1Q 2012 decreased $41.3 million, or 9.9%, reflecting an 8.2% decrease in sales volume and a 1.9% decrease in the average sales price for all of products. Typically the 1Q is a seasonally slow quarter due to lower demand for coated paper. However, prior year results were positively impacted by unusually high sales volume for coated papers in March of 2011, as the company said in a press release received by Lesprom Network. The decline in sales volume for the 1Q 2012 was also impacted by the permanent shutdown of three paper machines in the 4Q 2011. The lower average sales price for all of products reflects a decline in the price of pulp while coated paper prices remained flat compared to the 1Q 2011. Verso reported a net loss of $73.9 million in the 1Q 2012, or $1.40 per diluted share, which included $34.9 million of charges from special items, or $0.66 per diluted share, primarily due to debt refinancing and unrealized hedge losses. Verso had a net loss of $44.6 million, or $0.84 per diluted share, in the 1Q 2011, which included $26.5 million of charges from special items, or $0.50 per diluted share, primarily due to losses associated with debt refinancing. “Our EBITDA results for the 1Q 2012 are pretty much in line with what we expected. Compared to the first quarter of last year when volumes were exceptionally high, the current quarter was also impacted, primarily in the commercial print area, by sluggishness in advertising spending. Additionally, pulp prices were almost $90 per ton below last year’s levels and, although input prices eased compared to the 4Q 2011, they were significantly higher than last year’s first quarter,” said Mike Jackson, President and CEO of Verso. Verso Paper Corp. produces coated papers, including coated groundwood and coated freesheet, and specialty products.