Interfor Corporation recorded sales of $389 million and Adjusted EBITDA of $37.4 million in the 4Q 2014. In the 4Q 2014, Interfor recorded a net loss of $5.2 million, or $0.08 per share.

Lumber

Interfor posts 4Q sales of $389 million

Feb 14, 2015. /Lesprom Network/. Interfor Corporation recorded sales of $389 million and Adjusted EBITDA of $37.4 million in the 4Q 2014. These figures compare with sales and Adjusted EBITDA of $373.1 million and $45.4 million in the 3Q 2014, and $315.3 million and $36.2 million in the 4Q 2013, respectively. Interfor achieved a number of significant milestones in 2014 with record sales of $1.4 billion and Adjusted EBITDA of $169.3 million, as the company said in the press release received by Lesprom Network.

Lumber production in the 4Q 2014 was 578 million board feet, up 11 million board feet or 1.9% compared to 3Q 2014 and up 108 million board feet or 23% compared to 4Q 2013. The production growth from 4Q 2013 primarily reflects the addition of two sawmills with the Tolleson acquisition and higher operating rates. For fiscal 2014, lumber production exceeded 2.2 billion board feet, which was also a new Interfor record.

In the 4Q 2014, Interfor recorded a net loss of $5.2 million, or $0.08 per share. The net loss was impacted by an increase in the accrual for long term incentive compensation expense of $13.9 million in the 4Q compared with an expense of $3.6 million in the 3Q. The long term incentive compensation programs are directly tied to Interfor's share price performance and are therefore marked-to-market at each quarter end. In the 4Q 2014, Interfor's share price increased by 35.9%.

Interfor is a growth-oriented lumber company with operations in Canada and the United States. The Company has annual production capacity of 2.4 billion board feet and offers one of the most diverse lines of lumber products to customers around the world.