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Deltic Announces Preliminary Fourth Quarter And Year Of 2013 Results

Deltic Timber Corporation (NYSE:DEL):

FOURTH QUARTER     2013     2012
Net sales $ 48,372,000 36,665,000
Net income 2,337,000 2,404,000
Earnings per common share
Basic .18 .19
Assuming dilution .18 .19
Average common shares outstanding
Basic 12,546,885 12,537,984
Assuming dilution 12,600,658 12,587,396
YEAR-TO-DATE 2013 2012
Net sales $ 199,702,000 140,908,000
Net income 26,192,000 9,235,000
Earnings per common share
Basic 2.06 .73
Assuming dilution 2.05 .73
Average common shares outstanding
Basic 12,565,982 12,525,424
Assuming dilution 12,623,962 12,588,413

Deltic Timber Corporation (NYSE:DEL) announced today that net income for the fourth quarter of 2013 was $2.3 million, $.18 a share, compared to net income of $2.4 million, $.19 a share, for the fourth quarter of 2012. The slight decrease was mainly due to a lower pine pulpwood harvest volume combined with the sale of fewer acres of non-strategic recreational-use hardwood bottomland, essentially offset by the margin on increased residential lot sales activity and lower general and administrative expenses. For the year of 2013, net income was $26.2 million, $2.06 a share, compared to $9.2 million, $.73 a share, for the twelve months ended December 31, 2012. Net cash provided by operating activities was $8.1 million for the fourth quarter of 2013, compared to $3.1 million for the same period a year ago. Cash provided by operating activities for the year of 2013 was $42.1 million compared to $24.1 million for the year of 2012.

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