AbitibiBowater Inc., doing business as Resolute Forest Products, reported net income of $41 million for the year ended Dec. 31, 2011, or $0.42 per share, on sales of $4.8 billion, compared with net income of $2.6 billion, or $27.63 per share, on sales of $4.7 billion in the year ended Dec. 31, 2010.

The hardwood wood fiber price index (HFPI) reached a 24-year high in the 3Q/11 at the same time that hardwood pulp prices fell by 26% from June through October, reports the Wood Resource Quarterly.