Posted 10/23/2013 03:48 pm
Updated 11 months ago
Deltic Timber Corp. of El Dorado said Wednesday that third-quarter net income reached $5.9 million, up 84 percent from the same time last year, drive by improved results in its manufacturing segment.
The publicly traded real estate and timber company (NYSE: DEL) said net income reached 46 cents a share, up from 25 cents a share in the third quarter of 2012.
In a news release, it attributed the $2.7 million profit increase primarily to "improved financial results" for its manufacturing segment, where operating income was $5.8 million higher than in the same period a year ago.
The company said operating income rose on a higher average sales price for an increased volume of lumber sold. The company also said consolidation of its Del-Tin Fiber LLC affecting operating income by $2.4 million.