Deltic Sees Q4 Revenues of $28M; EPS $(0.02)
Deltic Timber Corporation's (NYSE: DEL) 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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