Apr 26, 2011. /Lesprom Network/. Deltic Timber Corporation announced preliminary net income for the 1Q 2011 was $.1 million, compared to net income of $2.3 million a year ago. The decrease in 2011’s 1Q results was due primarily to a lower average lumber sales realization when compared to the 1Q 2010. Lumber prices in 2010 benefitted from a supply-side driven price increase primarily caused by a sawmill log supply shortage due to inclement weather in the southeast portion of the U.S. Net cash required by operating activities was $1.2 million for the 1Q 2011, which compares to net cash provided of $4.4 million a year ago. Commenting on results, Ray C. Dillon, President and CEO stated, “While 1Q earnings were lower when compared to a year ago, I am pleased to report profitable financial results for the eighth consecutive quarter. This was achieved despite the continued depressed economic conditions for the forest and building products and residential and commercial real estate development businesses. We remained profitable even with persistent record-low prices for pine sawtimber, lack of the usual spring building-season benefit to lumber prices, continuation of a depressed residential real estate market, and absence of a commercial acreage real estate sale. The positive results are attributable to our diverse asset base and intensive, cost-conscious management of all of our operations.” Regarding the outlook for the 2Q and year of 2011, Mr. Dillon stated, “Currently, we anticipate the pine sawtimber harvest to be 150,000 to 175,000 tons and 550,000 to 600,000 tons, respectively. Finished lumber production and sales volumes are estimated at 60 to 70 million board feet for the second quarter and 230 to 270 million board feet for the year, depending upon market conditions. Residential lot sales are projected at 5 to 10 lots and 20 to 40 lots for the second quarter and year of 2011, respectively. Although commercial acreage within Chenal Valley continues to receive interest, because of its highly uncertain nature and the significant number of factors involved, the Company is unable to predict the closing of any commercial real estate transactions at this time.”