Feb 24, 2012. /Lesprom Network/. Fibrek Inc. announced its results for the quarter and year ended December 31, 2011. Results for the quarter and year ended December 31, 2010 have been restated as appropriate to be in accordance with the recently adopted International Financial Reporting Standard (IFRS). All dollar amounts are expressed in Canadian dollars unless otherwise stated, as the company said in a press release received by Lesprom Network. Sales in the 4Q 2011 totalled $119 million, compared with sales of $131.5 million for the same period last year. The reduction of $12.5 million in sales is mainly attributable to lower sales volumes in both business segments and lower NBSK sales prices, which were partially offset by higher RBK sales prices and a weaker Canadian dollar compared to the US currency. The total sales volume reached 152,878 tonnes in the 4Q 2011, compared to 169,149 tonnes in the same period of 2010. EBITDA was negative $3.5 million compared to $11.7 million in the 4Q 2010. A net loss of $79.9 million was recorded in the 4Q 2011, compared with net earnings of $2.6 million for the corresponding period of 2010. The net loss per share amounted to $0.61 (basic and diluted) in the 4Q 2011, compared with net earnings per share of $0.02 (basic and diluted) in the corresponding period of 2010. In 2011, consolidated sales reached $537.7 million, a decrease of $18.8 million when compared with sales of $556.5 million in 2010. This reduction is mainly attributable to an unfavourable exchange rate for $22.2 million and a lower sales volume for $18.9 million, which were partially offset by higher pulp prices and a favourable sales mix for $22.3 million. EBITDA for 2011 was $41.3 million (7.7% of sales), compared to $69.5 million (12.5% of sales) for the corresponding period of 2010. A net loss of $64 million was recorded in 2011, compared with net earnings of $16.6 million in the corresponding period of 2010. The net loss per share amounted to $0.49 (basic and diluted) in 2011, compared with net earnings per share of $0.15 ($0.12 diluted) in the corresponding period of 2010. Fibrek is a leading producer and marketer of high quality virgin and recycled kraft pulp. The company operates three mills located in Saint-Felicien, Quebec, Fairmont, West Virginia, and in Menominee, Michigan.