Aug 06, 2014. /Lesprom Network/. Conifex Timber Inc. reported net income of $2 million for the 2Q 2014 compared to net income of $1.6 million for the previous quarter and net income of $2.4 million for the 2Q 2013. Net income for the first six months of 2014 was $3.6 million compared to net income of $8.6 million over the same period last year, as the company said in the press release received by Lesprom Network.

The Company recorded consolidated operating income of $4.4 million for the 2Q 2014 compared to $2.8 million in the previous quarter, and $3.3 million in the 2Q 2013.

Lumber segment operating income improved by $1 million over the previous quarter and $0.7 million over the same quarter last year. The Company recorded a foreign exchange translation loss of $0.8 million for the 2Q 2014 and $0.2 million in the 2Q 2013 compared to a translation gain of $0.2 million in the previous quarter.

2Q 2014 EBITDA of $5.9 million was comprised of lumber segment EBITDA of $8 million offset by corporate costs and other items of $2.1 million. Lumber segment EBITDA improved by $1 million over the previous quarter and $1.2 million over the 2Q 2013.

Shipments of Conifex produced lumber increased by 53% over the previous quarter, during which shipments were constrained by seasonal rail car shortages and a truckers' strike at the main container port in Vancouver, British Columbia, and by 23% over the 2Q 2013.

Compared to the previous quarter, gross revenues from shipments of Conifex produced lumber increased by 42% as a result of higher shipment volumes which were partially offset by a 7% decline in unit gross sales realizations.

Lumber production volumes of approximately 135 million board feet reflected an increase of 5% over the previous quarter and were similar to volumes recorded in the 2Q 2013.

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.