Timber manufacturers Boise Cascade and West Fraser posted their 4Q2014 earnings.
West Fraser's earnings shrank to $43 million for the quarter, down from its Q32014 earnings of $70 million. Still, company CEO and president Ted Seraphim, says he's "guardedly optimistic" about 2015. "Although we have completed a majority of our capital investments, with over $400 million invested in 2014, we still have more to go." said Seraphim. "Also in 2014, we acquired three sawmills, which, in combination with some major capital investments, has increased our lumber capacity by 400 million board feet this year."
Boise Cascade, on the other hand, reported a 60% gain in net income for the quarter. "We are pleased by our results in 2014, a year in which the Company generated near double-digit
revenue growth and almost $200 million in EBITDA," said CEO Tom Carlile. "In 2015, I expect the Company to take further advantage
of improvements in construction activity. As I move into retirement after 42 years with the Company, I'm
pleased with the strength of the leadership team and the culture of the Company. The Company's Board is
looking forward to supporting Tom Corrick as he leads the Company in continuing the focus on operating
excellence and both organic and strategic growth."