May 10, 2013. /Lesprom Network/. Acadian Timber Corp. reported financial and operating results for the three months ended March 30, 2013. Acadian generated net sales of C$18.3 million on sales volume of 339 thousand cubic metres, which represents a C$0.4 million, or 2%, decrease in net sales compared to the same period in 2012, as the company said in a press release received by Lesprom Network.

Historically, Acadian's 1Q has accounted for more than 40% of annual sales. However, as in the prior year, results for the 1Q were impacted by the vendor managed inventory program with one of its larger softwood sawlog customers.

Adjusted EBITDA of C$4.7 million for the 1Q was C$0.1 million lower than in the 1Q 2012, and Adjusted EBITDA margin at 26% was unchanged from the same period of last year.

"Operating conditions were favourable for the 1Q with harvest volumes coming in slightly ahead of the same period in the prior year and prices for most primary products showing modest improvement" said Reid Carter, CEO of Acadian.

Net income totaled C$1.3 million, or $0.08 per share, for the period ended March 30, 2013, a decrease of $3.1 million, or C$0.18 per share, compared to the prior year with the change primarily attributable to a C$1.8 million unrealized exchange loss on long-term debt compared to a C$1.8 million gain in the same period of the prior year. Operating earnings for the period at C$4.5 million were almost unchanged compared to the prior year.

Acadian announces a dividend of C$0.20625 per share, payable on July 15, 2013 to shareholders of record on June 28, 2013.

Acadian Timber Corp. is a leading supplier of primary forest products in Eastern Canada and the Northeastern U.S. With a total of 2.4 million acres of land under management, Acadian is the second largest timberland operator in New Brunswick and Maine.