Acadian Timber Corp. recently reported financial and operating results for the three month period and year ended December 31, 2010.
For the three months ended December 31, 2010 (the ―fourth quarter‖), Acadian generated net sales of $20.5 million on consolidated volumes of 382 thousand m3, compared with net sales of $16.7 million on consolidated volumes of 343 thousand m3 during the same period last year.
EBITDA for the fourth quarter was $6.4 million, or 31% of net sales, as compared to EBITDA of $2.0 million, or 12% of net sales, during the comparable period in 2009. Results in the quarter reflect a higher contribution from the management of the Crown licensed timberlands, improved demand for softwood sawlogs and reduced costs.
For the year ended December 31, 2010, Acadian generated net sales of $71.0 million as compared to net sales of $63.4 million in 2009. EBITDA was $18.0 million or 25% of net sales as compared to EBITDA of $12.1 million or 19% of net sales in the prior year.
Despite challenging market conditions, Acadian performed very well in 2010 generating its highest level of EBITDA since 2007,‖ commented Reid Carter, Chief Executive Officer of Acadian. Management was able to merchandise effectively and Acadian benefited from a combination of increasing demand for most of our products and higher hardwood pulplog prices,‖ added Mr. Carter.
