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Deltic Announces Preliminary Third Quarter 2010 Results

Deltic Timber Corporation (NYSE: DEL):
 
DELTIC TIMBER CORPORATION
CONSOLIDATED FINANCIAL DATA SUMMARY
 
THIRD QUARTER     2010     2009
 
Net sales $ 37,050,000 28,987,000
 
Net income 3,278,000 203,000
 
Earnings per common share
Basic .26 .02
Assuming dilution .26 .02
 
Average common shares outstanding
Basic 12,368,035 12,323,097
Assuming dilution 12,417,109 12,399,587
 
 
 
 
YEAR-TO-DATE 2010 2009
 
Net sales $ 107,922,000 80,970,000
 
Net income 11,124,000 1,000
 
Earnings per common share
Basic .89 -
Assuming dilution .89 -
 
Average common shares outstanding
Basic 12,361,854 12,313,720
Assuming dilution 12,419,011 12,408,721
 

Deltic Timber Corporation (NYSE: DEL) announced today that net income for the third quarter of 2010 was $3.3 million, $.26 a share, compared to $.2 million, $.02 a share, in the third quarter of 2009. The improvement was due mainly to the sale of a 19-acre commercial real estate tract, which was the second of a two-phase sale of a site to be developed as a lifestyle medical center in Chenal Valley. Net cash provided by operating activities was $12.5 million for 2010’s third quarter, which compares to $6.7 million a year ago. For the first nine months of 2010, net income totaled $11.1 million, $.89 a share, compared to break-even results for the same period of 2009. Operating activities provided net cash of $26.5 million for the first nine months of 2010 compared to $12.2 million a year ago.

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