Canfor reports Q4 net income of $1.6 million

Canfor Corporation reported a net income attributable to shareholders (“shareholder net income”) of $1.6 million for 4Q/2015, compared to a net loss attributable to shareholders of $17.3 million for 3Q/2015 and shareholder net income of $29.9 million for 4Q 2014. 

For the 12 months ended December 31, 2015, the Company’s shareholder net income was $24.7 million, compared to shareholder net income of $175.2 million, reported for the comparable period of 2014.

The Company reported operating income, after one-time items, of $35 million for 4Q/2015, up $7.1 million from similarly-adjusted operating income of $27.9 million for 3Q/2015.

Commenting on the Company’s 4Q results, Canfor’s President and CEO, Don Kayne, said, “Our lumber business continued to see solid progress at our Western Canadian and US South operations, and the integration of our most recent acquisition, Anthony Forest Products, has gone very well. In 2015 we invested over $500 million in our lumber, pulp and paper businesses, including $263 million in strategic acquisitions and $240 million in capital expenditures.”

He added, “Canfor Pulp had another quarter of strong operating results, which reflected relatively stable Canadian-Dollar sales realisations, a strong production performance as well as a solid contribution from our recent energy-related investments.”

Canfor is a leading integrated forest products company based in Vancouver, British Columbia (“BC”) with interests in BC, Alberta, Ontario, North and South Carolina, Alabama, Georgia, Mississippi and Arkansas.