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Deltic Announces Preliminary Fourth Quarter And Year Of 2012 Results

Deltic Timber Corporation (NYSE:DEL):
 

DELTIC TIMBER CORPORATION

CONSOLIDATED FINANCIAL DATA SUMMARY
 
FOURTH QUARTER     2012     2011
 
Net sales $ 36,665,000 28,813,000
 
Net income/(loss) 2,404,000 (208,000 )
 
Earnings/(loss) per common share
Basic .19 (.02 )
Assuming dilution .19 (.02 )
 
Average common shares outstanding
Basic 12,537,984 12,474,412
Assuming dilution 12,587,396 12,474,412
 
 
YEAR-TO-DATE 2012 2011
 
Net sales $ 140,908,000 121,847,000
 
Net income 9,235,000 2,659,000
 
Earnings per common share
Basic .73 .21
Assuming dilution .73 .21
 
Average common shares outstanding
Basic 12,525,424 12,449,897
Assuming dilution 12,588,413 12,552,185
 

Deltic Timber Corporation’s President and Chief Executive Officer, Ray C. Dillon, announced today that net income for the fourth quarter of 2012 was $2.4 million, $.19 a share, which compares to a loss of $.2 million, $.02 a share, in 2011’s fourth quarter. The increase was mainly due to a $4.6 million improvement in Deltic’s Mills segment’s financial results. When compared to the same period of 2011, the Company’s average sales price per-unit of lumber sold during this year’s fourth quarter increased 29 percent, and lumber sales volume increased 17 percent. For the year of 2012, net income was $9.2 million, $.73 a share, compared to $2.7 million, $.21 a share, for the twelve months ended December 31, 2011. Net cash provided by operating activities was $3.1 million for the fourth quarter of 2012, which compares to $.2 million for the same period last year. Cash provided by operating activities for the year of 2012 was $24.1 million compared to $14.6 million for the prior year.

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