Acadian Timber Corp Reports Second Quarter Results

Published on : Friday, August 2, 2013

AcadianAcadian Timber Corp. reported financial and operating results 1for the three months ended June 29, 2013(the “second quarter”)“

The continued strengthening of softwood sawlog markets and the implementation of the new pricing mechanism in Acadian’s fibre supply agreement in New Brunswick resulted in an increase in softwood sawlog prices relative to the second quarter of 2012”, said Reid Carter, Chief Executive Officer of Acadian. “Markets for hardwood pulpwood also continue to be positive”.

For the second quarter of 2013, Acadian generated net sales of $15.6million on sales volume of 331thousand m3, which represents a $1.4 million, or 9%, increase in net sales compared to the same period in 2012. Operating results for the period benefitted from sales carried over from the first quarter of 2013under the short-term vender managed inventory (“VMI”) program discussed in Acadian’s First Quarter 2013Interim Report.

Adjusted EBITDA of $2.9million for the second quarter of 2013 was $0.7million higher than in the second quarter of 2012, while Adjusted EBITDA margin increased to 19% from 15% in the same period of last year.

For the six months ended June 29, 2013, Acadian generated net sales of $33.9million on sales volume of 670thousand m3 as compared to net sales of $32.9million on sales volume of 658 thousand m3 in the comparable period of 2012. Adjusted EBITDA of $7.6million during the six months ended June 29, 2013 is $0.6million higher than the first half of 2012.

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