Deltic Timber Corporation (NYSE-DEL) announced today that net income for the second quarter of 2010 was $5.5 million, $.45 a share, compared to $1 million, $.08 a share, a year ago. The improvement was primarily due to significantly higher sales prices for lumber during the second quarter of 2010 and a sales volume increase to capitalize on the market improvement.
Commenting on the results, President and Chief Executive Officer, Ray C. Dillon, stated, “The economic leverage of Deltic’s ownership of efficient lumber manufacturing operations continued to be evident during the second quarter. Our sawmills not only protect the value of our core timberland assets, they also have the potential to generate outstanding income and cash flows for the Company whenever market conditions present opportunities. Although the lumber market has now softened from the peak that occurred during the second quarter, we will continue to emphasize hourly productivity rates and other operating efficiencies as we adjust operating hours in our facilities to match production levels with
demand.” Read more
The Association of European Publication Paper Producers, issues today its monthly summary of European mechanical paper statistics. European demand and shipments for the CEPIPRINT grades improved across the board in June against the weaker results recorded in the same period last year. Total European shipments of Newsprint were up 6.9% (59,000 tonnes) year-on-year.
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Plum Creek Timber Company, Inc. announced second quarter earnings of $35 million, or $0.21 per diluted share, on revenues of $258 million. Earnings for the second quarter of 2009 were $32 million, or $0.19 per diluted share, on revenues of $272 million.
"Our second quarter results were better than expected," said Rick Holley, Plum Creek's president and chief executive officer. "Northern sawlog prices, both softwood in the Pacific Northwest and hardwood in the Lake States and Northeast improved more than we had initially anticipated. Pulpwood markets throughout the country remained attractive, and improved demand from industrial panel customers led to solid gains in our manufacturing segment. In addition, activity in our real estate segment was better than expected." Read more
91 banks in European Union have undergone a stress test how they manage the financial crisis. Seven banks failed the European stress test. The exercise includes a sample of 91 European banks, representing 65% of the European market in terms of total assets, in coordination with 20 national supervisory authorities. The stresstest has been conducted over a 2 years horizon, until the end of 2011. Read more
The Samoa mill will build upon the “green” virtues of the North Coast of California by installing pollution prevention technology that will set new standards for the wood pulp industry. Officials from Freshwater tissue company expect that approximately $50 million must be spent on water quality and air emissions improvement measures according to the magazine Times-Standard. Read more
Avery Dennison, one pioneer in RFID-based solutions, reports an acceleration in item-level adoption in the apparel industry as companies seek more accurate and efficient solutions from supply chain to point of purchase according to a pressrelease. Adoption is being spurred by the significant improvements RFID item-level tagging makes to retail operations with inventory accuracy increasing up to as much as 99%, compared to 70-80%. Read more
Canadian company Canfor Pulp informed North American customers that it will drop northern bleached softwood kraft (NBSK) pulp prices. Canfor reduced price by US$30 to US$990 per ton, effective August 1, citing a fall in pulp consumption from China and Asia coupled with a typical seasonal slowdown during the summer months. "We have mixed signals...there is recent downward pressure on pricing primarily coming from China, and we expect to settle down US$50 to US$840 per ton in Asia in July," said Chief Executive Joe Nemeth to Reuters. Read more
Profit after net financial items amounted to SEK 61 (-112) million for the first half of 2010. Operating profit was SEK 55 (-102) million for the first six months of the year. Profit after net financial items amounted to SEK 50 million for the second quarter of 2010. Rottneros retains optimism despite some warning signs on the pulp market, says CEO Ole Terland in a comment in the report of the second quarter.
Demand has so far been strong in both North America and Europe, with increases of approximately 15 percent. However, deliveries to the China has dropped sharply. Read more
Organic sales growth was 2% including continued strong results for K-C International. Operating margin improved to 170 basis points, leading to a 24% increase in earnings per share and third, they continue to be focused on driving those factors they control, delivering strong cost savings holding down working capital and increasing investments behind the brands. The second quarter market shares improved sequentially from the first quarter and several of their categories in North America including diapers. Read more
West Fraser Timber benefits from strong lumber prices in first half of 2010
West Fraser Timber Co. Ltd. (WFTBF) Q2 2010 Earnings Call July 23, 2010 11:30. Earnings for the second quarter were $63 million compared to $20 million in the first quarter of 2010, and a loss of $39 million in the second quarter of 2009. The significant improvement in the results can primarily be attributed to relatively strong pricing for virtually all of the products in the first half of the year.
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