August 24, 2011 / 2:40 PM / 7 years ago

EACOM Timber shares fall on wider Q2 loss

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)

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