Mar 07, 2013. /Lesprom Network/. Ainsworth Lumber Co. Ltd. announced its financial results for the 4Q and year ended December 31, 2012. 4Q sales were $117.9 million in 2012 compared to $69.5 million in 2011. The $48.4 million increase in sales was mainly due to a 59.4% increase in realized pricing and a 6.4% increase in sales volumes as Ainsworth Lumber responded to increased demand from the customers, as the company said in a press release received by Lesprom Network. Adjusted EBITDA for the 4Q 2012 was $42.3 million compared to $2.7 million in the 4Q 2011. Net income from continuing operations was $6.7 million in the 4Q 2012 compared to $1.7 million in the same quarter last year. The $5 million increase in net income included a $39.1 million increase in gross profit. This increase was largely offset by fluctuations in non-cash accounting gains and losses and income tax expense. Full year sales were $409.1 million in 2012 compared to $293.3 million in 2011. The $115.8 million increase in sales was the result of a 32.6% increase in realized pricing and a 5.2% increase in sales volume. Annual adjusted EBITDA was $106.7 million in 2012 compared to $12.5 million in 2011. Net income from continuing operations was $28.8 million in 2012 compared to $7.6 million in 2011. The $21.2 million increase in net income included a $93.2 million increase in gross profit. Ainsworth President and CEO, Jim Lake said, "I am pleased to report that Ainsworth's adjusted EBITDA for the year was $106.7 million in 2012, an increase of $94.2 million compared to 2011. Adjusted EBITDA margins were 26.1% on shipment volumes of 1.62 billion square feet (3/8" basis) and sales of $409.1 million. These impressive results not only reflect improving market conditions but were also made possible by our unrelenting focus on operational performance and our strategic commitment to value-added products and markets." "Our three operating mills continued to generate efficiency gains, which enabled us to increase shipments and benefit from higher OSB prices. In 2012, we exceeded our prior year output by over 5% while also establishing a new annual production record. Looking forward into 2013, we expect that demand will remain strong and we are working towards restarting the High Level mill in the second half of the year, to meet both North American and export market demand." Ainsworth is a leading Canadian forest products company, headquartered in Vancouver, Canada, with a reputation for the highest quality in engineered wood products.