For the nine months ended September 30, 2015, the Company’s shareholder net income was C$23.1 million ($17.3 million), compared to shareholder net income of C$145.3 million ($109.3 million) reported for the comparable period of 2014.
The Company reported operating income of C$8.5 million ($6.4 million) for the 3Q 2015, down C$9.1 million ($6.8 million) from C$17.6 million ($13.2 million) reported for the 2Q 2015.
Results for the 3Q included one-time costs of C$19.4 million ($14.6 million) before tax associated with the announced closure of the Canal Flats sawmill.
Commenting on the Company’s 3Q results, Canfor’s President and CEO, Don Kayne, said, “Despite challenging lumber markets, we continued to see a positive trend in productivity across our operations.”
Kayne added “the pulp and paper segment performed very well during the quarter, delivering strong results despite some weakening in global pulp market conditions.”
Canfor is a leading integrated forest products company based in Vancouver, British Columbia (“BC”) with interests in BC, Alberta, North and South Carolina, Alabama, Georgia and Mississippi. Canfor produces primarily softwood lumber and specialized wood products.
