May 05, 2011. /Lesprom Network/. Canfor Corporation reported net income of $32.3 million for the 1Q 2011, compared to $55.4 million for the 4Q 2010 and $35.5 million for the 1Q 2010. The Company’s net income attributable to shareholders for the 1Q 2011 was $7 million, or $0.05 per share, down from $31.4 million, or $0.22 per share, for the 4Q 2010 and down from $18.3 million, or $0.13 per share, reported for the 1Q 2010. Reported EBITDA for the 1Q 2011 was $72.9 million, down $10.6 million from the 4Q 2010. EBITDA for the lumber segment was $18 million, down $3.7 million from the previous quarter, while EBITDA for the pulp and paper segment decreased $2.4 million to $64 million. Weaker panels results accounted for the majority of the remaining shortfall. Commenting on the quarter, Canfor’s President and CEO, Jim Shepard, said, “We continue to believe that the road to recovery for the U.S. housing market is likely to be a long one, but we are clearly seeing the benefits of the work we have done in developing our Asian markets, particularly China.” Canfor is a leading integrated forest products company based in Vancouver, British Columbia (BC) with interests in BC, Alberta, Quebec, Washington state, and North and South Carolina. The Company produces primarily softwood lumber and also produces oriented strand board (OSB), remanufactured lumber products and specialized wood products. Canfor also owns a 50.2% interest in Canfor Pulp Limited Partnership, which is one of the largest producers of northern softwood kraft pulp in Canada and a leading producer of high performance kraft paper.