Feb 20, 2006. /Lesprom Network/. West Fraser Timber Co. Ltd. reported fourth quarter earnings of $9 million or $0.20 per share on sales of $832 million compared to earnings of $41 million or $0.94 per share on sales of $552 million in the fourth quarter of 2004. For the full year, earnings were $108 million or $2.49 per share, on sales of $3 577 million. This compares to earnings of $212 million or $5.36 per share, on sales of $2 400 million for 2004. EBITDA1 was $95 million or 11% of sales for the quarter compared to EBITDA of $74 million or 13% of sales in the fourth quarter of 2004. For the full year, EBITDA was $447 million or 12% of sales compared to $442 million or 18% of sales for2004. West Fraser’s 2005 results include the earnings of the acquired Weldwood operations, which are not reflected in reporting periods before 2005. Fourth quarter 2005 earnings reflect the following after-tax items: • A gain of $3 million or $0.07 per share related to share option compensation; • An expense of $3 million or $0.07 per share for costs related to the previously-announced indefinite shutdown of a 50% owned sawmill in Red Earth, Alberta; and • A gain of $4 million or $0.09 per share related to the recognition of prior years’ scientific research and experimental development tax credits. Fourth quarter 2004 earnings include the following after-tax items: • A gain of $3 million or $0.07 per share related to share option compensation; and • A gain of $23 million or $0.52 per share related to the translation of U.S. dollar denominated debt. “2005 was a very significant year for West Fraser,” said Hank Ketcham, chairman, president and chief executive officer. “The company marked its 50 year anniversary and completed the integration of the acquired Weldwood operations. Today we have a much larger and stronger West Fraser with proud employees who share a common vision for success.” West Fraser is an integrated forest products company that produces lumber, LVL, MDF, plywood, pulp, linerboard, kraft paper and newsprint. The company has manufacturing operations in British Columbia, Alberta and the southern United States. West Fraser has approximately 6 900 employees and is headquartered in Vancouver, British Columbia.