Western Forest Products reports quarterly net loss of $3.1 million

Western Forest Products has posted a net quarterly loss of $3.1 million for its fourth quarter of 2009, on sales of $139.3 million.

Over the entire year of 2009, Western Forest Products posted a net loss of 75.3 million on sales of $580.5 million.

Western Forest Products said their operating results of 2009 were significantly impacted by a severe global recession, weak product demand, and the strengthening of the Canadian dollar relative to the US dollar.

Western Forest Products said their management has taken significant action to improve the financial results of the company by curtailing production to reduce inventory levels, downsizing staff, and reducing overall costs.

As a result of these actions, and coupled with slightly improving market conditions, Western Forest Products's EBITDA improved to negative $2.9 million over the last six months of 2009 compared to negative $31.9 million over the first six months of 2009.

2009 fourth quarter EBITDA of $2.3 million represents the first positive EBITDA quarter since the second quarter of 2007.

Western Forest Products Annual Report for 2009 containing discussion and analysis for the fourth quarter and full year as well as the Annual Information Form are available on SEDAR and the company's website at www.westernforest.com.