Conifex Timber reports 4Q net loss of $3.9 million
Mar 09, 2011. Conifex Timber Inc. reported a net loss of $3.9 million for the 4Q 2010 compared to a net loss of $2.2 million for the 4Q 2009. The net loss for the year ended December 31, 2010 was $10.8 million, compared to a net loss of $10.3 million for the year ended December 26, 2009.
Mar 09, 2011. /Lesprom Network/. Conifex Timber Inc. reported a net loss of $3.9 million for the 4Q 2010 compared to a net loss of $2.2 million for the 4Q 2009. The net loss for the year ended December 31, 2010 was $10.8 million, compared to a net loss of $10.3 million for the year ended December 26, 2009, as the company said in a press release received by Lesprom Network.
Lumber shipments for the 4Q 2010 totalled 49 million board feet, an increase of 35% over the same quarter last year. Revenues from lumber sales totalled $18.2 million, an increase of 65% over the same quarter last year with the increase evenly attributable to increased volumes and to higher unit sales prices achieved. Export sales accounted for 53% of total net lumber revenue in the 4Q 2010 compared to 34% during the same quarter last year.
Total lumber production during the fourth quarter of 2010 was 49 million board feet compared to 33 million board feet during the same quarter last year.
Operating results for the 4Q 2010 was negatively impacted by low overall operating rates of approximately 26%, production inefficiencies related to the capital improvement project currently nearing completion at the Fort St. James site, and costs related to idle facilities and typical start-up issues at the Mackenzie location,
Of the $2.2 million EBITDA for the 4Q 2010, $0.4 million was attributable to the lumber segment, $0.2 million to the bioenergy segment and $1.6 million to corporate costs and other items.
Conifex and its subsidiaries' primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing. Conifex's lumber products are sold in the United States, Chinese, Canadian and Japanese markets.