Deltic’s profit slides to $2.7M in quar­ter

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM - — Stephen Steed

Deltic Tim­ber re­ported a $2.7 mil­lion profit on $55.4 mil­lion in net sales for the sec­ond quar­ter of this year, down from a profit of $4.2 mil­lion on $56.8 mil­lion in sales for the same pe­riod a year ago.

Deltic’s quar­terly earn­ings re­port, re­leased Wed­nes­day, said earn­ings per share were 22 cents, com­pared with 35 cents a year ago.

The El Do­rado-based com­pany said its wood­lands divi­sion saw an in­crease in de­mand for saw logs and ben­e­fited from an in­crease in pulp­wood and chip-and-saw har­vests de­spite a wet spring. The divi­sion had net sales of $10.2 mil­lion for the quar­ter, com­pared with $9.5 mil­lion a year ago. Op­er­at­ing in­come grew from $4.4 mil­lion to $5 mil­lion.

Its man­u­fac­tur­ing divi­sion re­ported sales prices on lum­ber were 5 per­cent higher, on av­er­age. It sold 66.9 mil­lion board feet of lum­ber in the sec­ond quar­ter, a 4 per­cent drop from a year ago. The com­pany at­trib­uted a $3 mil­lion down­turn in op­er­at­ing in­come to higher op­er­at­ing ex­penses, es­pe­cially in main­te­nance.

The com­pany sold four res­i­den­tial lots dur­ing the quar­ter, com­pared with 22 a year ago, but said the sale of 69 lots in its Wild­wood de­vel­op­ment in west Lit­tle Rock was nearly com­plete.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.