Business
Hardwoods Distribution Income Fund Announces 2010 Fourth Quarter and Year-End Results
Mar. 28, 2011 (Canada NewsWire Group) -- TRADING SYMBOL: Toronto Stock Exchange - HWD.UN ...
About this update from Adentra Inc
[{"type":"text","content":"\n\n\n Mar. 28, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nTRADING SYMBOL: Toronto Stock Exchange - HWD.UN\n\n\n >\n\n\nLANGLEY, BC, March 28 /CNW/ - Hardwoods Distribution Income Fund (the "Fund") today reported financial results for the three and 12 months ended December 31, 2010. The Fund's results are based on the performance of Hardwoods Specialty Products LP and Hardwoods Specialty Products USLP (collectively "Hardwoods") - one of North America's largest wholesale distributors of hardwood lumber and related sheet good products. Hardwoods operates a network of 26 distribution centres in the US and Canada.\n\n\n >\n\n\n"Stronger demand and prices for hardwood products and successful implementation of our strategic initiatives contributed to improved financial performance in 2010," said Lance Blanco, President and CEO of Hardwoods Distribution Income Fund. "We improved revenue, EBITDA, and net earnings results, and ended the year with positive Distributable Cash of $4.1 million."\n"Although the economic recovery remained fragile, housing starts increased by 5.8% in the US and by a more significant 27.4% in Canada when compared to 2009. We were also able to capitalize on opportunities within specific sectors and geographic markets. For example, a significant increase in deliveries by the US recreational vehicle manufacturing industry led to significantly higher sales for our Lake States' operations. In addition, we continued to ...