TERREBONE, Que. Structural steel company ADF Group Inc. swung to a $1.6-million loss in 2012 as its net loss increased 15 per cent in the fourth quarter on weak market conditions.

The Quebec-based company also said it was negatively affected by the replacement of New Yorks World Trade Centre project with lower-margin contracts.

ADF Group said it lost $514,000 for the quarter ended Jan. 31, compared to a loss of $446,000 a year earlier.

Revenues decreased by $200,000 to $10.7 million.

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For the full year, it lost $1.6 million or five cents per diluted share, compared to a net profit of $1.8 million or five cents per share in 2011.

Revenues decreased by $7 million to $41.4 million in 2012.

Canadian business accounted for 46 per cent of revenues, compared to 13 per cent last year.

Despite the economic challenges, ADF said it is encouraged by current trends and expects it will provide it with new momentum this year.

The company announced last month that it had won a $46.6 million contract to fabricate and install the steel structure of Quebec Citys new multi-purpose amphitheatre.

The company is building a new $24 million facility in Montana that will expand its reach in Western Canada and the U.S.

ADF has designed and installed complex steel structures for non-residential installations across North America.