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Deltic Announces Preliminary First Quarter 2011 Results

Deltic Timber Corporation (NYSE: DEL):

FIRST QUARTER                     2011             2010
Net sales $ 29,395,000 31,935,000
Net income 92,000 2,253,000
Earnings per common share
Basic .01 .18
Assuming dilution .01 .18
Average shares outstanding 12,533,013 12,473,303

President and Chief Executive Officer, Ray C. Dillon, of Deltic Timber Corporation (NYSE: DEL) announced today preliminary net income for the first quarter of 2011 was $.1 million, $.01 a share, compared to net income of $2.3 million, $.18 a share, a year ago. The decrease in 2011’s first quarter results was due primarily to a lower average lumber sales realization when compared to the first quarter of 2010. Lumber prices in 2010 benefitted from a supply-side driven price increase primarily caused by a sawmill log supply shortage due to inclement weather in the southeast portion of the U.S. Net cash required by operating activities was $1.2 million for the first quarter of 2011, which compares to net cash provided of $4.4 million a year ago.

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