Pesquera Exalmar S.A. announced earnings results for the year ended December 31, 2011. For the year, net income was $22,571,000 on revenues of $191,243,000 compared to net income of $17,418,000 on revenues of $182,992,000 of prior year. Operating income was $42,270,000 against $30,221,000 of prior year. The 2011 net income was negatively affected by $2.3 million due to a reimbursement of Worker profit sharing of the years 2007- 2010 due to a change in the interpretation of the Fiscal authorities regarding the usage of tax shields of the fishing licences associated to the vessels, that allowed before a depreciation between 1 to 10 years and that now have been considered non depreciable perpetuities. EBITDA was $60,646,000 against $50,457,000 of prior year. Total net debt as of December 31, 2011 amounted to $134.9 million, greater than $31 million in 2010.