Feb 27, 2009. /Lesprom Network/. Tissue and cardboard producer Cascades Inc. reported a 4Q loss of $19 million, reversing a year-ago profit of $12 million. The loss amounted to 20 cents per share and compared to earnings of 12 cents per share in the year-ago period. Sales during the quarter increased to $1.02 billion from $937 million, as The Canadian Press informed Lesprom Network. Cascades said it earnings excluding one-time items reached $17 million, versus a year-earlier $1 million. "In 2008, we were confronted with very challenging business conditions throughout the year including in particular, a severe economic downturn in latter half of the fourth quarter," President and CEO Alain Lemaire said in a statement. "However, despite of all these factors, we reported positive annual net earnings and relatively stable cash flow from operations excluding specific items." For the full year, Cascades' loss was $55 million, 56 cents per share, compared to net earnings of $95 million or 95 cents per share in 2007. Annual sales increased to $4.02 billion from $3.93 billion. Cascades, with about 13 thousand employees in North America and Europe, makes packaging and tissue products composed mainly of recycled fibres.