These non-GAAP measures do not have any standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers.With a modern touch screen design, the D3 Performance Tuner offers the function of having real-time gauges on the display to measure multiple vehicle functions and features industry-leading data logging, diagnostics, vehicle information and the ability to perform vehicle adjustments. This release makes reference to the following non-GAAP measures: Adjusted net earnings (loss), Adjusted net earnings (loss) per share, EBITDA, Adjusted EBITDA, Pre-tax return on total assets and Net debt to invested capital, which are used by the Company and certain investors to evaluate operating performance and financial position. We believe that Interfor will have sufficient liquidity to fund operating and capital requirements for the foreseeable future. These resources, in addition to cash generated from operations, will be used to support ongoing working capital requirements, debt servicing commitments and capital expenditures. Interfor continues to maintain its disciplined focus on monitoring discretionary capital expenditures, optimizing inventory levels and matching production with offshore and domestic demand.Īs at September 30, 2016, the Company had net working capital of $154.6 million and available capacity on operating and term facilities of $214.6 million. Outstanding letters of credit included in line utilizationĪvailable liquidity at September 30, 2016Īs of September 30, 2016, the Company had commitments for capital expenditures totaling $10.5 million, related to both maintenance and discretionary capital projects. The following table summarizes Interfor's credit facilities and availability as of September 30, 2016: Net drawing (repayment) on credit facilities, USDĬanadian Dollar debt, including bank indebtedness, CAD Dollar denominated debt from (strengthening) weakening CADĭecrease (increase) in cash and equivalents, CAD Net drawing (repayment) on credit facilities, CAD Net earnings (loss) per share, basic and dilutedĪdjusted net earnings (loss) per share, basic and diluted (2) The monetization process for the Tacoma sawmill property is proceeding on track, with the sale expected to close in Q4'16. 1996 K3500 6.5L,( 'F' Eng 141 cast block) NV4500, crewcab, dually,Diamond Eye 4' Turbo Back Exhaust w/2.5' Flo-Pro Crossover, AirDog II DF165 w/ tank sock,delete,TD-Max boost controller,OPS extension hose,Glow Plug Harness,Glowshift Maxtow gauges,Boost & Fuel Pressure Bolts,2/0 Battery Cable Upgrade,PMD Re-Location Kit, in bumper, Optilube. The initiative remains on track to meet or exceed the targeted $35 million in annualized EBITDA gains by the end of 2017. However, there was a short term negative impact on production volume and conversion costs in Q3'16, as a result of the projects' impact on operating hours. Benefits related to product mix, lumber recovery and productivity improvements were realized at a number of mills in the quarter. A number of small capital projects were completed in the quarter, with more underway or in the planning stage.
#KD MAX 6.0 TACOMA SERIES#
South region continued to implement a series of capital and optimization initiatives focused on mill reliability, debottlenecking and product mix. Focus continues on optimizing log supply, productivity and product mix to drive further margin improvements. Northwest regions generated strong operating and financial results reflecting the benefits from the Company's multi-year capital investment programs. In spite of the drop in benchmark prices, Interfor's average realization increased $16 to $580 per mfbm in Q3'16, reflecting a positive shift in product mix and the benefits of a lower Canadian dollar. Interfor's production, declined US$8 to US$382 per mfbm and US$19 to US$336 per mfbm, respectively. However, the Southern Pine Composite and KD HF Stud 2x4 9' benchmark, which represent the largest share of The Western SPF Composite was up US$11 to US$311 per mfbm. Key benchmark lumber prices were mixed in Q3'16 compared to the preceding quarter. Mixed Lumber Prices/Higher Sales Realizations
#KD MAX 6.0 TACOMA FREE#
The resulting free cash flow enabled Interfor to reduce net debt by $49.0 million during the quarter to $346.9 million, or 31.8% of invested capital. Interfor generated $67.7 million of cash from operations, including $12.8 million from working capital. Adjusted net earnings 1 in Q3'16 were $22.8 million, or $0.33 per share, compared to $20.9 million, or $0.30 per share, in Q2'16.Īdjusted EBITDA 1 was $58.1 million on sales of $457.6 million in Q3'16, versus Adjusted EBITDA of $56.9 million on sales of $458.8 million in Q2'16. 3, 2016) - Interfor Corporation ("Interfor" or the "Company") ( IFP.TO) recorded net earnings in Q3'16 of $15.1 million, or $0.22 per share, compared to $23.2 million, or $0.33 per share in Q2'16.
VANCOUVER, BRITISH COLUMBIA-(Marketwired - Nov.
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