Conifex Timber Inc. reported results for the 3Q ended September 30, 2017. Revenues totaled $120.3 million in the 3Q 2017, an improvement of 3% over the prior quarter and 16% over the same quarter last year, as the company said in the press release received by Lesprom Network.
Operating income for the 3Q 2017, which includes the CVD and ADD deposits, was $8.8 million compared to $6.4 million in the previous quarter and $3.3 million in the same quarter last year.
Net income for the 3Q 2017 was $6.2 million, or $0.23 per diluted share, compared to $4.2 million or $0.16 per diluted share in the previous quarter and $1.4 million or $0.07 per diluted share in the 3Q 2016.
Year to date net income was $9 million, or $0.36 per diluted share, compared to a normalized net income of $3.7 million or $0.18 per diluted share for the same period last year.
Adjusted EBITDA for the nine month period ended September 30, 2017, which included CVD and ADD deposits of $8.0 million, was a record $28.5 million. Adjusted EBITDA was $24.3 million for the first nine months of 2016.
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.
