Norske Skog reported gross operating earnings of 275 million Norwegian Kroner in the first quarter, down from 472 million in the previous quarter and 504 million in the first quarter of 2009. The net result for the period is -1,1153 million Norwegian Kroner. The weak result was mainly caused by low prices for newsprint and magazine paper in Europe, combined with increased input factor costs.Net cash flow from ooperations fell from 537 million Norwegian Kroner in the fourth quarter of 2009 to 101 million in the first quarter of 2010."The situation is very demanding," comments Sven Ombudstvedt, CEO of Norske Skog. "We now concentrate on three main tasks: Further cost reductions, strengthening the group's financial position, and initiatives that can contribute to a necessary restructuring of the industry."