After a year in the black, Canfor Corporation has suffered a year in the red.
The integrated forest company reported Wednesday a $56.6 million net loss, or 40 cents per share, for 2011, compared to an $81.4 million, or 57 cents per share, profit in 2010.
For the fourth quarter, the net loss was $44.1 million or 31 cents per share, compared to a $21.6 million, or 15 cents per share, loss for the third quarter of 2011 and a shareholder's profit of $32.9 million, or 23 cents per share, for the fourth quarter of 2010.
"The fourth quarter provided challenges on several fronts," Canfor CEO Don Kayne said in a press release.
"We saw weaker lumber and NBSK [Northern Bleached Softwood Kraft] pulp realizations, related in part to the slowdown in demand from China, particularly for lower lumber grades, the ongoing slow U.S. recovery and overall global economic issues."
The company, which produces primarily softwood lumber and owns a 50.2 per cent interest in Canfor Pulp Limited Partnership, will hold a conference call with analysts on Thursday morning.
