Deltic Timber Corp recorded a “respectable year” in 2007, despite the “depressed housing and lumber markets”.
Deltic generated income of US$11.1m over the year from sales of US$128.3m. This compared to income of US$11.3m off sales of US$153.1m in 2006.
This was supported by net income of US$1.7m in the fourth quarter, compared to a loss of US$2m during the same period in 2006.
“The company’s financial results for the year were respectable, especially given the impact to our businesses of the depressed housing and lumber markets,” said president and chief executive officer Ray Dillon.
Mr Dillon noted that the stability of its pine sawtimber prices, increases in hourly lumber production rates, the sale of 680 acres of undeveloped real estate and record sales of pine pulpwood were reasons for the company’s “respectable year”.
