Aug 24 (Reuters) - Shares of EACOM Timber Corp fell as much as 12 percent on Wednesday, a day after the manufacturer and distributer of lumber and by-products posted a second-quarter loss hurt by a sequential decline in production, shipments and lumber prices.
The company’s second-quarter net loss widened to C$13,662, or 3 Canadian cents per share, compared with a loss of C$2,534, or 3 Canadian cents a share, last year.
Shipments fell 7 percent sequentially to 158 million board feet of lumber, while lumber production fell 28 percent from last quarter to 119 million board feet of lumber, the company said in a statement.
The average lumber price for studs fell 4 percent while prices for random length fell 12 percent from the first quarter.
Sales for the quarter was C$71.2 million.
Shares of the Richmond, British Columbia-based company were trading at 15.5 Canadian cents on Wednesday morning on the Toronto Venture Exchange. (Reporting by Ankur Banerjee in Bangalore; Editing by Roshni Menon)