Feb 02, 2007. /Lesprom Network/. Norbord Inc. posted on February 1 2006 earnings of $97 million or $0.67 per share compared to 2005 earnings of $248 million or $1.61 per share. Norbord reported a loss of $1 million for the fourth quarter of 2006 compared to earnings of $7 million in the prior quarter and earnings of $52 million in the same quarter last year. Fourth quarter 2006 EBITDA remained positive at $22 million. "North American benchmark OSB prices continued their downward trend in the fourth quarter and are currently trading at their lowest levels since 2001," said Barrie Shineton, Norbord president and CEO. "Although there are signs the US housing market may be bottoming, with new capacity ramping up, we expect weak prices to persist through 2007." "Many OSB producers have responded to the weak markets by shutting capacity," said Mr. Shineton. "Norbord's OSB mills continued to generate positive cash flow during the quarter. Further, European markets are steadily improving, and we expect the better results from our European business to provide some offset to weaker North American results during 2007. We remain confident the company will continue to perform well during the cycle bottom." Norbord Inc. is an international producer of wood-based panels with assets of $1.3 billion, employing approximately 2 800 people at 16 plant locations in the United States, Europe and Canada. Norbord is one of the world's largest producers of oriented strand board (OSB). In addition to OSB, Norbord manufactures particleboard, medium density fibreboard (MDF), hardwood plywood and related value-added products. Norbord is a publicly traded company listed on the Toronto Stock.