Interfor Corporation, together with its subsidiaries, produces wood products. It offers commodity structural lumber products; and specialty products, such as exterior decking and siding products, machine stress rated products, industrial timber products, and various appearance grade items. The company is also involved in the purchase and sale of logs that are unsuitable for cutting or in excess of its manufacturing requirements. In addition, it provides lumber by-products, including wood chips and other residuals. The company sells its products in Canada, the United States, Japan, China/Taiwan, and internationally. The company was formerly known as International Forest Products Limited and c...
1055 Dunsmuir Street
PO Box 49114
Vancouver, BC V7X 1H7
Founded in 1963
Interfor Corporation to Report Q2, 2016 Results on Jul 28, 2016
Jun 28 16
Interfor Corporation announced that they will report Q2, 2016 results at 1:58 AM, GMT Standard Time on Jul 28, 2016
Interfor Corporation, Board Meeting, Jul 28, 2016
Jun 28 16
Interfor Corporation, Board Meeting, Jul 28, 2016, at 08:00 Pacific Standard Time.
Interfor Corporation Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2016; Provides Capital Expenditure Guidance for the Full Year of 2016
Apr 28 16
Interfor Corporation reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2016. For the period, the company’s sales were CAD 433,944,000 against CAD 415,446,000 a year ago. Operating earnings were CAD 3,459,000 against CAD 7,808,000 a year ago. Loss before income tax was CAD 2,531,000 against CAD 546,000 a year ago. Net earnings were CAD 795,000 or CAD 0.01 per basic and diluted share against loss of CAD 163,000 or CAD 0.00 per basic and diluted share a year ago. Cash generated from operating activities was CAD 31,022,000 against cash used in operations was CAD 22,850,000 a year ago. Additions to property, plant and equipment was CAD 12,551,000 against CAD 21,575,000 a year ago. Additions to logging roads were CAD 5,089,000 against CAD 5,138,000 a year ago. Additions to timber and other intangible assets was CAD 136,000 against CAD 840,000 a year ago. Adjusted net earnings were CAD 2,608,000 against CAD 4,493,000 a year ago. Adjusted net earnings per share, basic and diluted share were CAD 0.04 against CAD 0.07 a year ago. EBITDA was CAD 32,893,000 against CAD 32,278,000 a year ago. Adjusted EBITDA was CAD 33,358,000 against CAD 31,757,000 a year ago. Net debt as at March 31, 2016 was CAD 428,062,000 against CAD 369,683,000 a year ago, largely on the devaluation of U.S. dollar-denominated debt. Adjusted EBITDA was impacted by: reduced profitability in the B.C. Coastal business due to seasonally lower log production, an increase in the percentage of helicopter logging, and lumber product mix changes; and variances in quarter end log and lumber inventory reserve adjustments.
For the quarter, the company reported Lumber production of 618 million board feet. The company produced an additional 50 million board feet in first quarter of 2016 against fourth quarter of 2015. The production increase is a result of: the return to a normal operating schedule at the Castlegar mill in first quarter of 2016 versus the mill restart during fourth quarter of 2015; the improvement in weather conditions near the Georgetown mill that negatively impacted operations in fourth quarter of 2015; and incremental operating days in first quarter of 2016 versus the holiday-impacted schedule in fourth quarter of 2015.
For 2016, the company expects capital spending for 2016 is in line with prior guidance of CAD 76 million.