Canfor Reports Results for Fourth Quarter of 2012

Feb 14, 2013

Canfor Corporation (TSX: CFP) today reported net income attributable to shareholders (“shareholder net income”) of $21.6 million, or $0.15 per share, for the fourth quarter of 2012, compared to $22.2 million, or $0.16 per share, for the third quarter of 2012 and a shareholder net loss of $44.1 million, or $0.31 per share, for the fourth quarter of 2011. For the year ended December 31, 2012, the shareholder net income was $32.1 million, or $0.22 per share, compared to a net loss of $56.6 million, or $0.40 per share, for 2011. 

The shareholder net income for the fourth quarter of 2012 included various items affecting comparability with prior periods, which had an overall positive impact on the Company’s results of $1.2 million, or $0.01 per share.  After adjusting for such items, the Company’s adjusted shareholder net income for the fourth quarter of 2012 was $22.8 million, or $0.16 per share, up $7.5 million, or $0.05 per share, from an adjusted shareholder net income of $15.3 million, or $0.11 per share, for the third quarter of 2012, and an adjusted shareholder net loss of $32.1 million, or $0.22 per share, for the fourth quarter of 2011. For the year ended December 31, 2012, the Company’s adjusted shareholder net income was $26.9 million, or $0.18 per share, in contrast to an adjusted shareholder net loss of $31.7 million, or $0.22 per share, for 2011.  

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