VANCOUVER, BC -- Canfor Corporation (TSX: CFP) reported net income of $33.5 million for the third quarter of 2010 compared to $40.4 million for the second quarter of 2010 and $4.1 million for the third quarter of 2009.
For the nine months ended September 30, 2010, the Company’s net income was $106.4 million, compared to a net loss of $53.7 million for the comparable period in 2009.
Commenting on the results, Canfor’s President and CEO Jim Shepard said, “While pulp markets remained strong in the quarter, the stagnant U.S. housing market weighed on the results of our solid wood business. On a more positive note, we continued to see strong demand from China for our Western SPF lumber, and this was reflected in our record-high shipments to Asia in the third quarter.”
Read Canfor's press release.
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