Deltic Timber profit rises to $1.5M in 3Q

Deltic Timber on Wednesday reported net income of $1.5 million for the third quarter of 2016, or 12 cents a share, compared with a $38,000 profit and zero per share earnings in its 2015 third quarter.

Net income for the year to date was $6.1 million, compared with $2.7 million for the same period last year.

Mark Leland, interim president and chief executive officer for El Dorado-based Deltic, based the better numbers on an improved lumber market and on the company's maintaining market share.

"Average sales price on lumber in the manufacturing segment was 17 percent higher when compared to this time last year," said Leland, who was announced as interim president on Oct. 10 with the simultaneous retirement of Ray Dillon.

Deltic will hold a conference call at 11:30 a.m. today to discuss the earnings report. Interested parties may call (888) 771-4371 and use passcode 43540386 to listen.

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