Mar 01, 2014. /Lesprom Network/. International Forest Products Limited (“Interfor”) reported net earnings of $11.4 million or $0.18 per share in the 4Q 2013, compared to net losses of $0.1 million or $0.00 per share in the 3Q and $3.8 million or $0.07 per share in the 4Q 2012. EBITDA, adjusted to exclude the effects of long-term incentive compensation and other items, was $36.2 million compared with $24.6 million in the 3Q 2013 and $19.3 million in the 4Q of last year, as the company said in the press release received by Lesprom Network.

Lumber production in the 4Q was a record 470 million board feet, up 5% from the 3Q 2013. Lumber sales, including wholesale and agency volumes, were a record 500 million board feet, up 12% versus the prior quarter.

The Company’s 4Q results also benefited from a rise in commodity lumber prices. SPF 2x4 in the US market averaged $370, up $42 versus the 3Q. Hem-Fir studs increased $41 to average $374 while SYP 2x4 East increased $22 to average $415. Long-term incentive compensation amounted to $5.2 million or $0.08 per share in the 4Q.

Export taxes on shipments to the US averaged 2% in the 4Q of this year versus 5% in the 3Q and an average of 8% in the 4Q last year. In the 4Q, Interfor generated $35.2 million in cash from operations before working capital changes and $33.5 million after working capital changes. Capital spending amounted to $16.8 million during the quarter. Net debt closed the quarter at $140.8 million or 21.5% of invested capital.

Interfor is a growth-oriented lumber company with operations in Canada and the United States. The Company has annual production capacity of more than 2.2 billion board feet.