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.

Conifex Timber reported 3Q net loss of $5.6 million

09:28 / 十一月 24, 2015

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.

Lesprom Network

Conifex Timber reported 3Q net loss of $5.6 million

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