Brief: Conifex Announces First Quarter 2019 Results

Conifex Timber

14/05/2019 13:22

May 14 (Reuters) - Conifex Timber Inc  CFF.TO :
    * CONIFEX ANNOUNCES FIRST QUARTER 2019 RESULTS
    * QTRLY LOSS PER SHARE $0.25
    * QTRLY REVENUES FROM CONTINUING OPERATIONS TOTALED $133.7
MILLION, DOWN 2% VERSUS PRIOR QUARTER
    * CONTINUE TO BELIEVE THAT CURRENT LUMBER PRICES DO NOT
PROPERLY
REFLECT FUNDAMENTAL SUPPLY
    * CONIFEX TIMBER - ALSO CONTINUE TO BELIEVE CURRENT LUMBER
PRICES
DO NOT REFLECT DEMAND FACTORS THAT ARE EXPECTED TO DRIVE LUMBER
PRICING THROUGH REST OF 2019 & 2020
    * IN TERMS OF LUMBER DEMAND, WE EXPECT LUMBER CONSUMPTION
WILL
CONTINUE TO GROW OVER NEXT TWO YEARS
    * EXPECT GROWTH IN LUMBER DEMAND WILL OUTPACE GROWTH IN NET
NEW
SUPPLY
    * EXPECT CAPACITY UTILIZATION RATES WILL REMAIN ELEVATED
    * EXPECT LUMBER PRICES, WHILE REMAINING VOLATILE, WILL
IMPROVE
    * Q1 EARNINGS PER SHARE VIEW C$-0.24, REVENUE VIEW C$157.0
MILLION
-- REFINITIV IBES DATA

Source text for Eikon:  ID:nGNX9FT62z 
Further company coverage:  CFF.TO 

 ((Briefs@thomsonreuters.com;))