Deltic Timber Corp. reported fourth quarter net income of $2.4 million compared to a year ago when the El Dorado-based firm posted a $200,000 loss.
Improvement in its mill operations pushed the turnaround.
For the full year, Deltic Timber net income was $9.2 million compared to $2.7 million for the twelve months ended December 31, 2011.
“Our portfolio of diverse assets performed well in 2012, and we reported profitable financial results for a tenth consecutive year,” said Deltic Timber CEO Ray Dillon. “Driving the financial results for the current quarter and the year of 2012 was the company’s ownership and efficient operation of its sawmills. These sawmills also provide a secure market for Deltic’s sustainably managed, valuable timberland assets.”
Two weeks ago, Deltic Timber announced it would acquire the remaining 50% stake of Del-Tin Fiber currently owned by TIN, Inc., a wholly owned subsidiary of International Paper Company.
Talk Business will update this story later today.