Deltic Timber Profit Rises

(RTTNews) - Deltic Timber Corp (DEL) Wednesday reported third-quarter net earnings of $5.97 million or $0.47 per share compared with $5.81 million or $0.46 per share last year.

Revenues for the quarter were $58.3 million compared with $56.3 million in the prior year.

The increased profit was due to better results at the company's Woodlands and Real Estate segments and a lower income tax rate, partly offset by reduced operating income from its Manufacturing segment.

Looking ahead to the fourth quarter and the full year of 2014, the company expects the pine sawtimber harvest to be 45,000 to 85,000 and 580,000 to 620,000 tons, respectively.

Finished lumber production and sales volumes are estimated at 60 to 80 million board feet for the fourth quarter and 260 to 280 million board feet for the year.

MDF sales volumes for the fourth quarter and year of 2014 are forecast to be 25 to 35 million square feet and 110 to 120 million square feet, respectively.