Tuesday, April 23, 2013
Deltic Timber posts $6.8 million in profit
Deltic Timber Corp.
on Monday reported net income of $6.8 million for its first quarter, up markedly from the $100,000 in income recorded in the same quarter a year ago.
Earnings per share for the quarter ending March 31 were 53 cents, compared with 1 cent per share in the same period in 2012.
Deltic attributed the rise to a $9.7 million improvement to the company’s manufacturing segment (formerly called the “mills segment”).
The company released its earnings report after markets closed.
Deltic will hold its conference call at 10 a.m. today to discuss its financial results. The call can be accessed by calling (800) 798-2864 and using the pass code: 69943133. It will also be streamed live online at www.deltic.com.
The Arkansas Securities Department issued a cease-and-desist order Monday against a Little Rock firm that was said to be selling unregistered securities.
The order was filed against Voyager Financial Group and Andrew Gamber, Kevin McNay, Robert Henry and Jonathan Sheets, who have been principals of the company.
Voyager nationally sells future monthly payments of pension income streams for a lump sum.
Individuals who want to sell their income streams can appoint Voyager as a buying agent, which then submits a contingent offer to a third-party buyer. Voyager then helps set up an escrow account where the income can be directed and disbursed to the buyer.
As of August 2012, Voyager had made 317 sales in 31 states for an estimated $34.2 million and had received commissions totaling $6.7 million, the department found.
The order found that the secondary sales of income streams are considered to be investment contracts and therefore a security that was not properly registered or exempt from the state’s Securities Act.
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, slipped 0.07 to 263.08 Monday.
Nine stocks rose and seven declined.
USA Truck gained 1.9 percent in light trading.
P.A.M. Transportation Services rose 1.8 percent in average volume.
America’s Car-Mart fell 2.5 percent on low volume.
After announcing a two-for-one stock split in June on Friday, Home BancShares matched its 52-week high of $40.11 during trading Monday.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 23 on 04/23/2013