八月 17, 2016
Conifex Timber Inc. reported results for the 2Q ended June 30, 2016. Adjusted EBITDA in the 2Q 2016 was a record $9 million, compared to $6.8 million in the 1Q 2016 and negative $6.8 million in the 2Q 2015.
2Q 2016 net income was a record $35.2 million, compared to net income of $28.5 million in the previous quarter and net loss of $13 million in the 2Q 2015.
Revenues totaled $103.7 million in the 2Q 2016, an improvement of 4% over the prior quarter and 27% over the same quarter last year.
Operating income improved to $5.1 million compared to $3 million in the previous quarter and an operating loss of $9.8 million in the same quarter last year.
Net income for the 2Q 2016 included a net gain on sale of assets of $19 million related to the completion of the previously announced timber harvesting cooperation agreement, with some of the ancillary costs related to the transaction included in corporate costs.
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.