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Deltic Announces Preliminary Third Quarter 2011 Results

Stocks in this article: DEL

Deltic Timber Corporation (NYSE:DEL):



Net sales $ 31,371,000 37,050,000
Net income 720,000 3,278,000
Earnings per common share
Basic .06 .26
Assuming dilution .06 .26
Average common shares outstanding
Basic 12,461,035 12,368,035
Assuming dilution 12,496,409 12,417,109
YEAR-TO-DATE 2011 2010
Net sales $ 93,034,000 107,922,000
Net income 2,867,000 11,124,000
Earnings per common share
Basic .23 .89
Assuming dilution .23 .89
Average common shares outstanding
Basic 12,441,636 12,361,854
Assuming dilution 12,536,770 12,419,011

Deltic Timber Corporation (NYSE:DEL) announced today that net income for the third quarter of 2011 was $.8 million, $.06 a share, compared to $3.3 million, $.26 a share, in the third quarter of 2010. The decrease, when compared to the prior-year period, was primarily due to the sale of a 19-acre commercial real estate tract in the third quarter of 2010, while there were no commercial acreage sales in the 2011 period. Net cash provided by operating activities was $6.1 million for 2011’s third quarter, which compares to $12.5 million a year ago. For the first nine months of 2011, net income totaled $2.9 million, $.23 a share, compared to $11.1 million, $.89 a share, for the same period of 2010. Operating activities provided net cash of $14.4 million for the first nine months of 2011 compared to $26.5 million the same period a year ago.

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