Feb 21, 2013. /Lesprom Network/. In comparison with the same period last year, Cascades' 4Q sales decreased by 1% to $904 million as of result of lower average selling prices and an unfavorable CAD/Euro exchange rate which more than offset the net impact of business acquisitions over divestitures and closures as well as lower shipments, said in a press release received by Lesprom Network. The net loss excluding specific items amounted to $2 million ($0.02 per share) in the 4Q 2012 compared to a net loss of $4 million ($0.04 per share) for the same period in 2011. Including specific items, the net loss amounted to $29 million ($0.30 per share) compared to net earnings of $5 million ($0.05 per share) for the same quarter in 2011. In comparison to last year, sales increased by 1% to $3.6 billion reflecting the net contribution of business acquisitions over divestitures and the full consolidation of the results of Reno de Medici since Q2 2011. These factors were offset by the negative impact of a stronger Canadian dollar as well as lower shipments and average selling prices. In 2012, net earnings excluding specific items amounted to $16 million ($0.17 per share) compared to a net loss of $14 million ($0.14 per share) last year. Including specific items, the net loss reached $11 million ($0.11 per share) compared to net earnings of $99 million ($1.03 per share) in 2011. Impairment charges and restructuring measures impacted net earnings during the last two years. In 2011, specific items included the gain from the sale of Dopaco. Mr. Alain Lemaire, President and CEO, had the following comments on the 4Q results: "We ended 2012 on a better note than last year. Despite a sequential performance which reflects inherent seasonality associated with the fourth quarter in North America, the results released today are encouraging in a number of ways. Our Tissue Papers Group continues to perform well. The sequential decline in recycled paper costs and the gradual implementation of price hikes contributed positively to the results of our Containerboard Group manufacturing activities. The maintenance downtime period did not allow this segment to achieve the desired utilization rate but the performance of our flagship operations is gradually improving. The implementation of price increases in the corrugated products sector is in line with our expectations but the product mix negatively impacted the performance of our converting operations during the fourth quarter. In our Specialty Products Group, shipments of specialty papers and converted products were lower than expected, which had a negative impact on financial results. In Europe, we have been able to capitalize on capacity closures to make the best of a difficult market environment." In commenting on the near term outlook, Mr. Lemaire added: "2013 will be an important year for Cascades. In addition to the start-up of Cascades' largest project to date, Greenpac, we will benefit from other strategic initiatives we undertook over the last two years. In North America, industry fundamentals remain positive for our two core sectors. Demand in the tissue papers sector continues to be robust despite ongoing capacity additions. In the containerboard sector, the corrugated box price increase is gradually being implemented and is expected to be fully effective during the second quarter. In North America, we do not expect a significant move in the price of recovered papers in the beginning of the year. The situation is different in Europe and presents significant uncertainty in relation to costs and market conditions." Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres.