Acadian posts Q1 gains

VANCOUVER — Acadian Timber Corp. reported Q1 net income of $4.76 million, or 28 cents per share, compared to $4.3 million the previous Q1, due in large part to higher sales volumes. Net sales rose to $23.1 million from $21.4 million last year, primarily owing to favourable winter harvest conditions. Total sales volumes were 18% higher than the same period in the prior year, driven by a 34% increase in softwood sawlog sales volumes. The increase in sales volumes was partially offset by a 6% decrease in the weighted average log selling price due to a year-on-year decline in the U.S. dollar exchange rate, unfavourable mix, and weaker pricing for hardwood products.