Prince George, BC – Canfor Corporation is reporting a net income of $4.5-million dollars for the second quarter of 2012, a buoyant comeback from a net loss of $16.2-million in the first quarter of the year.

In reporting the Q2 results, the company says the adjusted shareholder net income for the second quarter is $11.1-million dollars, or eight-cents per share – that’s up $33.4-million dollars, or 24-cents per share from the adjusted net loss recorded in the first three months of 2012.  And the adjusted net income for the same period last year was $2.6-million dollars, or two-cents per share.

Canfor Corp. says its operating income during the quarter topped $26-million dollars, compared to a loss of $21.5-million in Q1. Company President and CEO, Don Kayne, says, "The improvement in lumber prices and earnings reflected a moderate increase in construction activity in North America and continued solid offshore demand for Western SPF lumber products."

Kayne says lumber shipments increased significantly from the previous quarter, up 16-percent to almost 1.2-billion board feet, reflecting the additional contribution of two recently acquired mills in the Kootenay region, as well as continued post-capital project productivity improvements and further operating efficiencies at other mills in the current quarter.

For the rest of the year, the company is predicting the North American lumber market to show a modest, gradual improvement as housing demands edge up.  Offshore lumber shipments are expected to remain steady.  But the global softwood pulp market started to slow during the second quarter and is expected to weaken further through the remaining summer months.