Conifex Timber's revenues were $102 million in the 4Q 2016, $104.1 million in the previous quarter and $100.5 million in the 4Q 2015. Compared to the previous quarter, a decline in lumber segment revenues of 5% was partially offset by increased revenues from electricity sales, which accounted for 7% of total revenues for the quarter, as the company said in the press release received by Lesprom Network.
The company recorded operating earnings of $6.7 million in the 4Q 2016 compared to $3.3 million in the previous quarter and $1.6 million in the same quarter last year.
4Q 2016 net income was $5.1 million, or $0.24 per diluted share. Conifex Timber recorded net income of $1.4 million or $0.07 per diluted share in the previous quarter and a net loss of $0.3 million or $0.01 per share in the 4Q 2015.
Adjusted EBITDA was $9.3 million for the 4Q 2016, $8.5 million in the previous quarter and $7.3 million for the 4Q 2015.
Revenues were $409.3 million in FY 2016 compared to $353.5 million in 2015.
The company recorded operating income of $18.2 million in 2016 compared to an operating loss of $11.6 million in 2015.
Net income for the year ended December 31, 2016 was a record $70.2 million or $3.32 per diluted share compared to a net loss of $17.3 million or $0.82 per share for the prior year.
Adjusted EBITDA, which excludes the unusual or non-recurring items, was $33.6 million for 2016 and $7.7 million in 2015.
Conifex and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing and distribution.
