Deltic’s 2nd-quarter profit: $11.2 million
Deltic Timber Corp. on Wednesday reported net income of $11.2 million for its second quarter, up from the $3.5 million reported in the same quarter a year ago.
Earnings per share for the quarter ending June 30 were 89 cents, compared with 28 cents per share in the same period in 2012.
Deltic attributed the increase to higher average sales prices for lumber sold as well as the inclusion of operating income from its Del-Tin Fiber LLC beginning this quarter.
Deltic also said a part of the increase also came from nonoperating, after tax gains from its April 1 acquisition of the remaining half of Del-Tin Fiber.
Deltic will hold its conference call at 10 a.m.
today to discuss the quarter’s results. The call can be accessed at (866) 515-2908 and using the pass code 61919449. It will also be streamed live online at www.deltic.com.
- Glen Chase
Mitchell PR group to add big-city offices
The Mitchell Communications group is opening offices in New York and Chicago as part of the company’s ongoing expansion.
In January, the Fayetteville-based public-relations company was purchased by Dentsu Network, a marketing agency with media and branding components in 29 countries.
Mitchell Communications was New York-based Dentsu Network’s first public-relations acquisition and is part of its plan to build a global public relations platform. Dentsu Network’s parent company, Tokyo-based Dentsu Inc., is a top advertising company in Japan.
The new offices will allow for closer collaboration with partner agencies, according to a release Wednesday. The new offices will be staffed with new hires and some staff from Northwest Arkansas.
Mitchell Communications clients include some of largest companies based in Arkansas, including Wal-Mart Stores Inc., J.B.
Hunt Transport Services Inc. and Tyson Foods Inc.
- John Magsam
Arkansas Index falls 0.78, ends at 289.93
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 0.78 to 289.93 on Wednesday.
“U.S. stocks slipped lower on Wednesday, dropping on consecutive days for the first time in a month, as investors weighed earnings reports from Caterpillar and Apple,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock.
Simmons First National rose 1.2 percent on above average volume. USA Truck lost 7.3 percent in heavy trading.
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 25 on 07/25/2013