Q1 results from Conifex Timber
By Conifex Timber
May 14, 2013, Vancouver, B.C. - Conifex Timber Inc. released its first quarter results of 2013, reporting improvements in several sectors compared to last year.
The company reported a net income of $6.2 million or $0.29 per fully diluted share compared to a net loss of $3.6 million or $0.18 per share for the previous quarter.
Conifex also announced that it will issue 6,162 common shares at a price of $8.17 per common share according to severance arrangements with a former employee. The common shares are subject to a four-month hold period from date of issue.
The company’s lumber segment improved its net income by $9.9 million since the fourth quarter of 2012. Compared to the first quarter of 2012, the benefits of a significant improvement in mill net realizations and moderate improvement in unit conversion costs were partially offset by higher unit log costs and resulted in a year-over-year increase in lumber segment net income of $13.3 million.
For the full report visit, www.conifex.com.