Arctic Glacier Income Fund reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported sales of $35,623,000 against $34,782,000 a year ago. Operating loss was $11,313,000 against $7,983,000 a year ago. Loss before income taxes was $51,030,000 against $19,064,000 a year ago. Loss was $54,738,000 or $0.16 per diluted share against $22,063,000 or $0.57 per diluted share a year ago. Adjusted loss was $25,187,000 against $10,021,000 a year ago. Diluted adjusted loss was $25,187,000 or $0.07 per diluted share against $10,021,000 or $0.26 per diluted share a year ago. Cash from operating activities was $2,831,000 against cash used in operating activities of $755,000 a year ago. Additions to property, plant and equipment were $3,852,000 against $3,743,000 a year ago. EBITDA was negative $1.0 million, compared to negative $0.1 million for the same quarter in 2010. For the full year, the company reported sales of $237,099,000 against $233,398,000 a year ago. Operating earnings was $3,903,000 against $19,115,000 a year ago. Loss before income taxes was $77,629,000 against $96,443,000 a year ago. Loss was $84,884,000 or $0.54 per diluted share against $82,671,000 or $2.12 per diluted share a year ago. Adjusted loss was $27,864,000 against $18,904,000 a year ago. Diluted adjusted loss was $37,140,000 or $0.21 per diluted share against $18,904,000 or $0.48 per diluted share a year ago. Cash from operating activities was $741,000 against $18,435,000 a year ago. Additions to property, plant and equipment were $12,867,000 against $18,423,000 a year ago. Additions to intangible assets were $200,000 against $250,000 a year ago. EBITDA in 2011 decreased by 14% to $43.6 million, largely due to poor spring weather and increased competition in west coast markets. At December 31, 2011 the company's net debt was $189.9 million, versus $169.7 million (excluding convertible debentures), at the same time last year.