AbitibiBowater Inc. has reported a net loss for the first quarter 2008 of $248 million, or $4.32 per diluted share, on sales of $1.7 billion.

There is no complete comparison to last years results since the merger of Abitibi-Consolidated and Bowater is more recent. In the first quarter of 2007, the company of Bowater Inc. posted a net loss of $35 million, or $1.19 per diluted share, on sales of $772 million.

"Important progress was achieved during the first full quarter of AbitibiBowater," stated President and CEO David J. Paterson. "We set out with a disciplined approach and a commitment to deliver sustainable long-term value. Our EBITDA improvement, this quarter over the fourth quarter of last year, is an important step in positioning the Company as the industry's great turnaround story."

During the first quarter, AbitibiBowater successfully completed a series
of financing transactions, totaling $1.4 billion, designed to address
near-term debt maturities and general liquidity needs for its
Abitibi-Consolidated subsidiary.

Full Press Release:
AbitibiBowater shows significant improvements in Q1 operating results (AbitibiBowater Press Release)