May 10, 2012. /Lesprom Network/. Cascades Inc. announces its financial results for the three-month period ended March 31, 2012. In comparison with the same period last year, sales rose by 15% to $891 million as of result of higher selling prices, the net contribution of business acquisitions over divestitures and the full consolidation of the results of Reno de Medici since 2Q 2011 that more than offset lower volumes. Net earnings excluding specific items amounted to $4 million ($0.04 per share) in the 1Q 2012 compared to net earnings of $1 million ($0.01 per share) for the same period of last year. Including specific items, net earnings amounted to $6 million ($0.06 per share) compared to a loss of $8 million ($0.08 per share) for the same quarter in 2011. 1Q EBITDA was $72 million compared to $51 million in 4Q 2011 and $37 million in 1Q 2011. Commenting on the 1Q results, Alain Lemaire, President and CEO stated: "We announce today financial results which are a significant improvement over the previous quarter and the same period last year. This performance is below our expectations due to a low level of productivity of our Containerboard manufacturing operations. Our Tissue Papers Group continues to perform well and our Specialty Products Group shows improved results. During this past quarter, we benefited from lower recycled fibre costs and average selling prices have held for most of our products despite volatile demand. Continuing to implement our action plan, we have been particularly active with restructuring and capital allocation measures aimed at modernizing our operating units. The actions taken by our team reflect our commitment to improve profitability and efficiency in an increasingly competitive market." Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres.