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Hardwoods Distribution Income Fund Announces 2010 Third Quarter Results
Hardwoods Distribution Income Fund Announces 2010 Third Quarter Results
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[{"type":"text","content":"\n\n\n\n Nov. 15, 2010 (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\nHardwoods Distribution Income Fund will hold a conference call and webcast to discuss third quarter and nine-month financial results on November 16, 2010 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern). The call can be accessed by dialling: 1-888-231-8191 or 647-427-7450. A replay will be available until November 30, 2010 at: 1-800-642-1687 or 1-416-849-0833 (Passcode 22377125).\n\nLANGLEY, BC, Nov. 15 /CNW/ - Hardwoods Distribution Income Fund (the "Fund") today reported financial results for the third quarter and first nine months of 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 27 distribution centres in the US and Canada.\n\nThird Quarter Overview\n\n(For the three months ended September 30, 2010)\n\n\n >\n\n\n"Our financial results continued to strengthen in the third quarter and first nine months of 2010," said Lance Blanco, Hardwoods' President and CEO. "Sales, EBITDA and net income were all up compared to the same periods last year. We also generated positive Distributable Cash for the third consecutive quarter and have now generated a total of $4.3 million of Distributable Cash i...