Deltic Timber Corporation's 3Q 2017 net sales totaled $61.6 million, compared to $53.5 million for 3Q 2016. 3Q 2017 net income was $2.5 million, or $.20 per diluted share, compared to net income of $1.5 million, or $.12 per diluted share, for the same period of 2016, as the company said in the press release received by Lesprom Network.
Financial results for the 3Q 2017 benefited from increased operating income in the Woodlands and Real Estate segments combined with lower corporate general and administrative expenses. The Manufacturing segment results were lower than 3Q 2016 due to planned maintenance at the Del-Tin Fiber medium density fiberboard ("MDF") plant to replace the press chains and a press belt. In addition, $2 million of debt was repaid on its revolving credit facility during the 3Q 2017.
Deltic Timber Corporation is a natural resources company, which owns approximately 530,000 acres of timberland, operates 2 awmills and a medium density fiberboard plant, and is engaged in real estate development.