Apr 28, 2008. /Lesprom.com/. West Fraser Timber reported a loss of $69 million or $1.60 per share on sales of $772 million in the 1Q 2008. Hank Ketcham, West Fraser's Chair, President and CEO, stated: "Our business continues to suffer from the effects of the collapse of the U.S. housing market and the strong Canadian dollar. The length of this downturn is unclear but it is very severe. Our people continue to work hard to lower our cost base and to position our Company to deliver significant value to our shareholders when the lumber market recovers." The company said it had a net loss of $69 million ($68 million), or $1.60 per share, in the quarter. That compared with a loss of $5 million in the same period a year earlier. The latest loss was partly offset by a recovery on income taxes. West Fraser's operating loss in the quarter was $103 million, up from $21 million. Sales were $772 million, down from $759 million. West Fraser is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp, linerboard, kraft paper and newsprint. The Company has approximately 9,000 employees and operations in western Canada and the southern United States.