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Deltic Announces Preliminary Fourth Quarter And Year Of 2010 Results

Stocks in this article: DEL

Deltic Timber Corporation (NYSE: DEL):



Net sales $ 33,701,000 31,042,000
Net income 1,273,000 3,687,000
Earnings per common share
Basic 0.10 .30
Assuming dilution 0.10 .30
Average common shares outstanding
Basic 12,370,857 12,327,780
Assuming dilution 12,464,907 12,411,469
YEAR-TO-DATE 2010 2009
Net sales $ 141,623,000 112,012,000
Net income 12,397,000 3,688,000
Earnings per common share
Basic .99 0.30
Assuming dilution .99 0.30
Average common shares outstanding
Basic 12,364,123 12,317,264
Assuming dilution 12,460,363 12,416,935

President and Chief Executive Officer, Ray C. Dillon, of Deltic Timber Corporation (NYSE-DEL) announced today that net income for the fourth quarter and year of 2010 totaled $1.3 million, $.10 a share, and $12.4 million, $.99 a share, respectively. These results compare to net income of $3.7 million, $.30 a share, for both the fourth quarter and year of 2009. The decrease in fourth quarter earnings, when compared to the prior year, was primarily due to the sale of a 17.76-acre commercial real estate site in 2009, while there were no sales of commercial real estate in the fourth quarter of 2010. Net cash provided by operating activities was $2.4 million for the fourth quarter of 2010, and $28.9 million for the twelve months ended December 31, 2010, which compares to $4.7 million in the fourth quarter of 2009, and $16.9 million for the year of 2009.

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