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Deltic Announces Preliminary Fourth Quarter And Year Of 2011 Results

Deltic Timber Corporation (NYSE:DEL):

       

DELTIC TIMBER CORPORATIONCONSOLIDATED FINANCIAL DATA SUMMARY

 
2011 2010
 
Net sales $ 28,813,000 33,701,000
 
Net income/(loss) (208,000 ) 1,273,000
 
Earnings/(loss) per common share
Basic (.02 ) .10
Assuming dilution (.02 ) .10
 
Average common shares outstanding
Basic 12,474,412 12,370,857
Assuming dilution 12,474,412 12,464,907
 
 
 
YEAR-TO-DATE 2011 2010
 
Net sales $ 121,847,000 141,623,000
 
Net income 2,659,000 12,397,000
 
Earnings per common share
Basic .21 0.99
Assuming dilution .21 0.99
 
Average common shares outstanding
Basic 12,449,897 12,364,123
Assuming dilution 12,552,185 12,460,363
 

Deltic Timber Corporation’s President and Chief Executive Officer, Ray C. Dillon, announced today that financial results for the fourth quarter of 2011 were a loss of $.2 million, $.02 a share, which compares to net income of $1.3 million, $.10 a share, in the corresponding quarter of 2010. The decrease is due mainly to a reduced pine sawtimber harvest volume sold at a lower average per-ton sales price, combined with the sales of fewer acres of non-strategic hardwood bottomland. For the year of 2011, net income was $2.7 million, $.21 a share, compared to $12.4 million, $.99 a share, for the twelve months ended December 31, 2010. Net cash provided by operating activities was $.2 million for the fourth quarter of 2011, which compares to $2.4 million for the same period of last year. Cash provided by operating activities for the year of 2011 was $14.6 million compared to $28.9 million for the prior year.

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