VANCOUVER, BC -- Western Forest Products Inc. reported net income for the second quarter of 2010 ended June 30 of $9.5 million on sales of $181.5 million.
This compared to a net income reported in the first quarter of 2010 of $7.3 million and a net loss reported for the second quarter of 2009 of $30.1 million.
During the second quarter of 2010, the company said product demand and pricing remained below historical trend levels. Despite the market challenges, EBITDA for the quarter was $20.9 million, an improvement for the fourth consecutive quarter.
Results were positively impacted by a marginal improvement in market conditions, significantly reduced costs and increased production volumes which reduced unit operating costs. These positive gains were adversely impacted by the strengthening of the Canadian dollar relative to the U.S. dollar.
Read Western Forest Products' press release.
This compared to a net income reported in the first quarter of 2010 of $7.3 million and a net loss reported for the second quarter of 2009 of $30.1 million.
During the second quarter of 2010, the company said product demand and pricing remained below historical trend levels. Despite the market challenges, EBITDA for the quarter was $20.9 million, an improvement for the fourth consecutive quarter.
Results were positively impacted by a marginal improvement in market conditions, significantly reduced costs and increased production volumes which reduced unit operating costs. These positive gains were adversely impacted by the strengthening of the Canadian dollar relative to the U.S. dollar.
Read Western Forest Products' press release.
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