February 9, 2012 / 1:37 PM / 6 years ago

UPDATE 1-Weak pulp demand hurts Resolute Forest results

(Updates from brief; In U.S. dollars, unless noted)

TORONTO, Feb 9 (Reuters) - Resolute Forest Products , formerly known as AbitibiBowater, reported a fourth-quarter loss on Thursday, due to lower demand and weaker pricing for its pulp products.

Montreal-based Resolute said its loss in the quarter ended Dec. 31 came in at $6 million, or 6 cents a share. That compared with a year ago profit of $4.2 billion, or $44.82 a share, when results benefited from a huge gain related to the company’s reorganization.

“Lower demand and weaker pricing for kraft pulp had the most significant impact on fourth quarter results,” said CEO Richard Garneau, in a statement.

“We continued our strategy of controlling finished goods inventory by taking market-related downtime to offset the slowdown in demand caused by recent economic uncertainty,” he added. (Reporting By Euan Rocha)

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