Grieg Seafood ASA reported group earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported total operating income of NOK 519,577,000 against NOK 669,519,000 a year ago. EBITDA was NOK 439,000 against NOK 206,726,000 a year ago. LBIT before biomass adj. was NOK 38,212,000 against EBIT of NOK 246,883,000 a year ago. EBIT was NOK 32,365,000 against NOK 336,515,000 a year ago. Profit before tax was NOK 43,179,000 against NOK 329,409,000 a year ago. Net profit attributable to equity holders of the parent company was NOK 42,547,000 or NOK 0.39 per diluted share against NOK 248,247,000 or NOK 2.22 per basic and diluted share a year ago. Cash flow used in operations was NOK 139,619,000 against cash flow from operations of NOK 62,958,000 a year ago. Capital expenditures were NOK 89,014,000 against NOK 58,214,000 a year ago. LBIT before fair value adjustment of biomass decreased driven by a sharp drop in prices. Net interest bearing debt was NOK 1,433.7 million at the end of December 31, 2011 against NOK 1,046.64 million as of December 31, 2010. Sales revenue was NOK 515,144,000 against NOK 666,000,000 a year ago. For the year, the company reported total operating income of NOK 2,063,761,000 against NOK 2,445,888,000 a year ago. EBITDA was NOK 345,820,000 against NOK 686,944,000 a year ago. EBIT before biomass adj. was NOK 205,613,000 against NOK 639,754,000 a year ago. LBIT was NOK 189,567,000 against EBIT of NOK 847,383,000 a year ago. Loss before tax was NOK 123,158,000 against profit of NOK 631,039,000 a year ago. Net loss attributable to equity holders of the parent company was NOK 123,158,000 or NOK 1.11 per diluted share against profit of NOK 631,039,000 or NOK 5.64 per basic and diluted share a year ago. Cash flow from operations was NOK 215,406,000 against NOK 594,731,000 a year ago. Capital expenditures were NOK 324,186,000 against NOK 241,804,000 a year ago. Sales revenue was NOK 2,046,991,000 against NOK 2,446,490,000 a year ago. The company expects to harvest 71,000 tons in 2012 under existing production plans. This is more than previously indicated due to deferred harvesting in Finnmark and Shetland in the fourth quarter of 2011 and corresponds to an increase of 18% compared with 2011. The harvested volume in the first quarter of 2012 is expected to be 15,100 tons.