Conifex Timber Inc. reported a net loss of $5.6 million for the 3Q 2015 compared to a net loss of $13 million for the previous quarter and net income of $1.1 million for the 3Q 2014. Net loss for the first nine months of 2015 was $17 million compared to net income of $4.7 million over the same period last year.
Nov 25, 2015. /Lesprom Network/.
Conifex Timber Inc. reported a net loss of $5.6 million for the 3Q 2015
compared to a net loss of $13 million for the previous quarter and net income
of $1.1 million for the 3Q 2014. Net loss for the first nine months of 2015 was $17 million compared to net income of $4.7 million over the same period last year, as
the company said in the press release received by Lesprom Network.
The decline in net income of $6.7 million from the 3Q 2014 was mainly due to
lower lumber segment
operating results and
higher financing costs
related to the bioenergy
segment, partially offset
by benefits of
a relatively greater
foreign exchange translation
gain. EBITDA of $1.5 million in the 3Q 2015 represented an increase of $8.3
million over the previous quarter and a reduction of $3.8 million from the 3Q 2014.
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.
