May 16, 2012. /Lesprom Network/. EACOM Timber Corporation announces its 1Q results for the three-month period ended March 31, 2012. 1Q net income attributable to shareholders amounted to $6.3 million or $0.01 per common share, against a net loss of $27 million or $0.06 per common share in the previous quarter and a net loss of $6.1 million or $0.01 per common share in the corresponding quarter of 2011. The 2012 results include a gain of $14.3 million on disposal of property, plant and equipment destroyed by fire whereas the previous quarter results included an impairment charge of $15 million, as the company said in a press release received by Lesprom Network. For the quarter ended March 31, 2012, the Company recorded a negative EBITDA of $5.3 million, against a negative EBITDA of $8.6 million in the previous quarter and a negative EBITDA of $3.4 million in the corresponding quarter of 2011. Market conditions have improved since the 4Q 2011, contributing to an improved pricing environment and higher mill realizations. For the quarter ended March 31, 2012, EACOM Timber recorded sales of $60 million against sales of $67.4 million in the previous quarter and sales of $80 million in the corresponding quarter of 2011. The Company's sales include both lumber and by-product sales. During the quarter, the Company shipped 128 million board feet of lumber (159 million board feet in the previous quarter and 170 million board feet in the corresponding quarter of 2011) and 120,000 oven-dried metric tons of by-products (129,000 oven-dried metric tons in the previous quarter and 161,000 oven-dried metric tons in the corresponding quarter of 2011). In the 1Q 2012, shipments were impacted as the Timmins operations have been interrupted since January 22, 2012 as a result of the fire at the mill site. In the 4Q 2011, shipments benefited from a substantial reduction of inventories. Compared to the 1Q 2011, shipments reflect lower production volumes. Operations in Val-d'Or and Matagami have been temporarily shut down in the second half of 2011 due to market conditions, and the Timmins mill closed on January 22, 2012. These closures have been somewhat offset by the additional production at Elk Lake following the acquisition of the remaining one-third interest in the mill in the 3Q 2011. The business activities of EACOM consist of the manufacturing, marketing and distribution of lumber, wood chips and wood-based value-added products, and the management of forest resources. EACOM owns eight sawmills, all located in Eastern Canada, and related tenures.