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Deltic Announces Preliminary Third Quarter 2012 Results

Deltic Timber Corporation (NYSE:DEL):

 

DELTIC TIMBER CORPORATION

CONSOLIDATED FINANCIAL DATA SUMMARY

           
 
THIRD QUARTER 2012 2011
 
Net sales $ 36,499,000 31,371,000
 
Net income 3,218,000 720,000
 
Earnings per common share
Basic .25 .06
Assuming dilution .25 .06
 
Average common shares outstanding
Basic 12,533,323 12,461,035
Assuming dilution 12,566,385 12,496,409
 
 
 
YEAR-TO-DATE 2012 2011
 
Net sales $ 104,243,000 93,034,000
 
Net income 6,831,000 2,867,000
 
Earnings per common share
Basic .54 .23
Assuming dilution .54 .23
 
Average common shares outstanding
Basic 12,521,207 12,441,636
Assuming dilution 12,560,011 12,536,770
 
 

Deltic Timber Corporation (NYSE:DEL) announced today that net income for the third quarter of 2012 was $3.2 million, $.25 a share, compared to $.8 million, $.06 a share, in the third quarter of 2011. The increase was primarily due to a $5.1 million improvement in financial results for Deltic’s Mills segment, which benefitted from a 28 percent higher average lumber sales price. Partially offsetting this was decreased operating income from the Woodlands segment and increased Corporate general and administrative expenses. Net cash provided by operating activities was $9.5 million for 2012’s third quarter, compared to $6.1 million in 2011. For the first nine months of 2012, net income totaled $6.8 million, $.54 per share, compared to $2.9 million, $.23 per share, for the same period in 2011. Net cash provided by operating activities was $21 million for the first nine months of 2012 compared to $14.4 million in 2011.

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