Apr 23, 2012. /Lesprom Network/. Deltic Timber Corporation announced that preliminary net income for the 1Q 2012 was $.1 million, $.01 a share, the same as reported for the 1Q a year ago. The Company’s Mills segment reported improved operating income due to an increase in sales volume, a higher average unit sales price, and a lower average cost per unit sold, when compared to the 1Q 2011. The improvement in results for the Mills segment was essentially offset by increased Corporate general and administrative expenses and a lower equity in the earnings of Del-Tin Fiber, Deltic’s joint venture to manufacture medium density fiberboard (“MDF”). Net cash provided by operating activities was $2.1 million in the first quarter of 2012, which compares to net cash required of $1.2 million a year ago. Operating income for Deltic’s Woodlands segment was $4.8 million in the 1Q 2012, an increase of $.1 million when compared to $4.7 million reported a year ago. The Company harvested 173,007 tons of pine sawtimber during the current period of 2012, an 18% increase from the 146,089 tons harvested in the 1Q 2011. Commenting on results, President and CEO, Ray C. Dillon, stated, “I am pleased to report that Deltic’s solid assets generated profitable results despite the continued negative impact on our businesses caused by the weak housing market. Having our Mills segment produce increased operating income in this lumber market was quite an accomplishment, and reinforces our vertical-integration strategy. In addition, dry weather conditions in our operating area resulted in excellent logging conditions in our timberlands, on which we capitalized by increasing our harvest levels when compared to the 1Q 2011. We are also beginning to see a slight increase in residential lot sales activity in our Chenal Valley development, as a result of low interest rates combined with improved credit availability from area banks. At Del-Tin Fiber, we are focused on further improvement in productivity and efficiency during this period of a moderately soft MDF market, in addition to evolving the product mix of the plant to utilize different resin glue to reduce manufacturing cost there.” Deltic Timber Corporation is a natural resources company focused on the ownership and management of timberland.