VANCOUVER, BRITISH COLUMBIA – International Forest Products, a manufacturer of customized laminated panels and fabricated components, reported net earnings of $0.3 million or $0.01 per share in the second quarter of 2012.
Higher lumber sales volumes and prices were a key to the improvement, increasing 13% and 7% respectively versus the prior quarter.
Lumber production in the quarter was 333 million board feet, up 10 million board feet or 3 percent compared to the immediately preceding quarter. Sales volume, including wholesale activities, was 363 million board feet, compared with 320 million board feet in the first quarter.
The immediate outlook is uncertain with concerns over whether a recovery in the housing market can be sustained, as well as slowing housing starts in Canada and a softening market in China. Japan is expected to be a bright spot with continued reconstruction in the aftermath of the 2011 earthquake and tsunami.