Investors, analysts and other interested parties can access Acadian Timber Corp.'s 2013 Second Quarter Results conference call via webcast on Thursday, August 1, 2013 at 1:00 p.m. ET at www.acadiantimber.com or via teleconference at 1-800-319-4610, toll free in North America. For overseas calls please dial +1-604-638-5340, at approximately 12:50 p.m. ET. The teleconference taped rebroadcast can be accessed at 1-800-319-6413 or +1-604-638-9010 and enter passcode 2826.

All figures in Canadian dollars unless otherwise noted

Acadian Timber Corp. ("Acadian" or the "Company") (TSX:ADN) today reported financial and operating results(1) for the three months ended June 29, 2013 (the "second quarter").

"The continued strengthening of softwood sawlog markets and the implementation of the new pricing mechanism in Acadian's fibre supply agreement in New Brunswick resulted in an increase in softwood sawlog prices relative to the second quarter of 2012," said Reid Carter, Chief Executive Officer of Acadian. "Markets for hardwood pulpwood also continue to be positive."

For the second quarter of 2013, Acadian generated net sales of $15.6 million on sales volume of 331 thousand m3, which represents a $1.4 million, or 9%, increase in net sales compared to the same period in 2012. Operating results for the period benefitted from sales carried over from the first quarter of 2013 under the short-term vendor managed inventory ("VMI") program discussed in Acadian's First Quarter 2013 Interim Report.

Adjusted EBITDA of $2.9 million for the second quarter of 2013 was $0.7 million higher than in the second quarter of 2012, while Adjusted EBITDA margin increased to 19% from 15% in the same period of last year.

For the six months ended June 29, 2013, Acadian generated net sales of $33.9 million on sales volume of 670 thousand m3 as compared to net sales of $32.9 million on sales volume of 658 thousand m3 in the comparable period of 2012. Adjusted EBITDA of $7.6 million during the six months ended June 29, 2013 is $0.6 million higher than the first half of 2012.

Growth Strategy

Acadian is broadening its acquisition strategy to include interests in timberlands outside of Eastern Canada and the Northeastern U.S. markets. An integral part of this global strategy will be Acadian's participation, along with institutional investors, in partnerships, consortia and other investment opportunities sponsored by Brookfield Asset Management Inc. ("Brookfield") targeting acquisitions that suit Acadian's profile. Acadian's focus will be on investments in which Brookfield can achieve sufficient influence or control to deploy an operations-oriented approach to create value. Acadian will have an opportunity to participate in such investments, which it will evaluate on a case by case basis. Any such investment will be subject to review and approval by Acadian's independent directors.

To provide Acadian with additional funding flexibility to implement this strategy, Acadian has been able to arrange a stand-by equity commitment with Brookfield in an aggregate amount of US$50 million for a 2-year duration subject to regulatory approval. The equity commitment is structured so that Acadian may call on the equity commitment in exchange for the issuance of a number of common shares that corresponds to the amount of the equity commitment called divided by the volume-weighted average of the trading price for Acadian's common shares on the Toronto Stock Exchange for a period of up to twenty trading days immediately preceding the date of the call as approved by the Toronto Stock Exchange. All issuances of shares pursuant to the equity commitment will be subject to meeting Toronto Stock Exchange and other applicable regulatory requirements (if any). Acadian and Brookfield have also agreed to certain amendments to Acadian's existing management services agreement to reflect this new strategy.

Management Team Changes

Acadian announced today the appointments of Ms. Erika Reilly as Chief Financial Officer and Mr. Brian Banfill as Chief Operating Officer. Ms. Reilly has been intimately involved with Acadian since its inception and has 10 years of financial experience. Mr. Banfill brings over 30 years of operational and financial experience in the industry, including three years as Chief Financial Officer of Acadian, to the newly formed position of Chief Operating Officer.

Financial and Operating Highlights


                                    Three Months Ended      Six Months Ended
                               ---------------------------------------------
(CAD thousands, except per         June 29     June 30    June 29    June 30
 share information)                   2013        2012       2013       2012
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Sales volume (000s m3)               330.5       306.0      669.7      657.5
Net sales                          $15,608     $14,257    $33,860    $32,905
Operating earnings                   2,667       2,045      7,181      6,674
Net (loss) / income                   (857)        575        434      4,943
Adjusted EBITDA                      2,897       2,196      7,552      6,966
Free cash flow                       1,774       2,087      5,685      6,122
Dividends declared                   3,451       3,451      6,902      6,902
Per share (fully diluted)                                                   
    Net (loss) / income              (0.05)       0.03       0.03       0.30
    Free cash flow                    0.11        0.12       0.34       0.37
    Dividends declared                0.21        0.21       0.41       0.41
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Net loss totaled $0.9 million, or $0.05 per share, for the period ended June 29, 2013, a decrease of $1.4 million, or $0.09 per share, compared to the prior year with the change attributable to improved sales volume and operating margin offset by a $1.1 million increase in the unrealized exchange loss on long-term debt and a $1.4 million increase in deferred tax expense due to a change in provincial tax rates in New Brunswick. Operating earnings for the period at $2.7 million were $0.6 million higher than the second quarter of 2012 reflecting the aforementioned higher sales volumes and margins.

Acadian experienced typical seasonal operating conditions in the second quarter. Harvest volume, excluding biomass, for the period was 175 thousand m3, unchanged from the second quarter of 2012. The second quarter of 2013 benefitted from 54,000 m3 of harvest volume carried over from the first quarter of the year under the short-term vender managed inventory ("VMI") program discussed in Acadian's First Quarter 2013 Interim Report. As per the terms of this agreement, all purchase commitments were met during the second quarter with the volume carried over from the first quarter contributing net sales of $2.9 million and Adjusted EBITDA of approximately $1.6 million, in line with the guidance provided in the First Quarter 2013 Interim Report.

Acadian's weighted average log price during the second quarter increased 6% year-over-year primarily due to higher prices for, and a greater volume of, softwood sawlogs. The continued strengthening of softwood sawlog markets and the implementation of the new pricing mechanism in Acadian's fibre supply agreement in New Brunswick resulted in a 7% increase in softwood sawlog prices relative to the second quarter of 2012. Prices for hardwood sawlogs, which represented 10% of net sales, decreased by 3% as a result of product mix. Selling prices for hardwood and softwood pulpwood were effectively unchanged year-over-year. While hardwood pulpwood markets continue to be positive, softwood pulpwood markets began to slow as supply has outstripped demand and inventory levels have increased at regional pulp mills. Biomass markets remained stable with realized gross margin on this product unchanged year-over-year.

New Brunswick Timberlands

The table below summarizes operating and financial results for New Brunswick Timberlands.


                Three Months Ended June 29,     Three Months Ended June 30, 
                                       2013                            2012 
              --------------------------------------------------------------
                Harvest     Sales   Results     Harvest     Sales   Results 
              (000s m3) (000s m3)   ($000s)   (000s m3) (000s m3)   ($000s) 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Softwood           57.4     124.4  $  6,538        54.2     130.4  $  6,161 
Hardwood           89.8      95.6     5,807        91.9      94.0     5,667 
Biomass            68.2      68.2     1,199        46.3      46.3       748 
----------------------------------------------------------------------------
                  215.4     288.2    13,544       192.4     270.7    12,576 
Other sales                             (36)                           (184)
----------------------------------------------------------------------------
Net sales                          $ 13,508                        $ 12,392 
----------------------------------------------------------------------------
Adjusted                                                                    
 EBITDA                            $  2,943                        $  2,485 
Adjusted                                                                    
 EBITDA margin                           22%                             20%
----------------------------------------------------------------------------
                                                                            
                  Six Months Ended June 29,       Six Months Ended June 30, 
                                       2013                            2012 
              --------------------------------------------------------------
                Harvest     Sales   Results     Harvest     Sales   Results 
              (000s m3) (000s m3)   ($000s)   (000s m3) (000s m3)   ($000s) 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Softwood          213.4     211.4  $ 11,111       209.7     212.6  $ 10,322 
Hardwood          184.4     192.6    11,862       185.1     208.7    12,652 
Biomass           113.1     113.1     2,018       106.1     106.1     1,868 
----------------------------------------------------------------------------
                  510.9     517.1    24,991       500.9     527.4    24,842 
Other sales                             670                             705 
----------------------------------------------------------------------------
Net sales                          $ 25,661                        $ 25,547 
----------------------------------------------------------------------------
Adjusted                                                                    
 EBITDA                            $  5,935                        $  5,601 
Adjusted                                                                    
 EBITDA margin                           23%                             22%
----------------------------------------------------------------------------

Softwood, hardwood and biomass shipments were 124 thousand m3, 96 thousand m3 and 68 thousand m3, respectively, for the second quarter of 2013. Approximately 42% was sold as sawlogs, 34% as pulpwood and 24% as biomass. This compares to 39% sold as sawlogs, 44% as pulpwood and 17% as biomass in the second quarter of 2012.

Net sales for the second quarter of 2013 were $13.5 million (2012 - $12.4 million) with an average selling price across all log products of $56.12 per m3, which compares to an average log selling price of $52.68 per m3 during the second quarter of 2012. This year-over-year increase in the average selling price reflects general strengthening of markets and implementation of the new pricing mechanism in Acadian's fibre supply agreement in New Brunswick. Approximately $2.9 million of the sales during the second quarter were the result of volume carried over from the first quarter under the VMI. Net sales for the first six months ended June 29, 2013 were $25.7 million, an increase of $0.1 million over the first half of 2012.

Cash costs for the second quarter were $10.6 million (2012 - $9.9 million). Variable costs per m3 of logs harvested were 6% higher than the second quarter of 2012 due to higher hauling costs owing to the harvest of more distant stands.

Adjusted EBITDA for the second quarter was $2.9 million, compared to $2.5 million in the comparable period of 2012 reflecting higher sales volume and log prices, particularly for softwood sawlogs. Adjusted EBITDA margin increased to 22%, as compared to 20% for the second quarter of 2012.

NB Timberlands experienced two minor recordable safety incidents among contractors and no recordable incidents involving employees during the second quarter of 2013. In mid-July, NB Timberlands successfully completed a surveillance audit under the Sustainable Forestry Initiative.

Maine Timberlands

The table below summarizes operating and financial results for Maine Timberlands.


                Three Months Ended June 29,     Three Months Ended June 30, 
                                       2013                            2012 
              --------------------------------------------------------------
                Harvest     Sales   Results     Harvest     Sales   Results 
              (000s m3) (000s m3)   ($000s)   (000s m3) (000s m3)   ($000s) 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Softwood           18.1      18.1  $    875        20.4      21.6  $  1,176 
Hardwood            9.9      15.6     1,051         8.4       9.3       550 
Biomass             8.6       8.6        44         4.4       4.4        34 
----------------------------------------------------------------------------
                   36.6      42.3     1,970        33.2      35.3     1,760 
Other sales                             130                             105 
----------------------------------------------------------------------------
Net sales                          $  2,100                        $  1,865 
----------------------------------------------------------------------------
Adjusted                                                                    
 EBITDA                            $    215                        $     (7)
Adjusted                                                                    
 EBITDA margin                           10%                              -%
----------------------------------------------------------------------------
                                                                            
                  Six Months Ended June 29,       Six Months Ended June 30, 
                                       2013                            2012 
              --------------------------------------------------------------
                Harvest     Sales   Results     Harvest     Sales   Results 
              (000s m3) (000s m3)   ($000s)   (000s m3) (000s m3)   ($000s) 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Softwood           94.6      94.3  $  5,217        96.4      96.2  $  5,384 
Hardwood           35.6      42.0     2,658        28.2      28.9     1,773 
Biomass            16.3      16.3       125         5.0       5.0        53 
----------------------------------------------------------------------------
                  146.5     152.6     8,000       129.6     130.1     7,210 
Other sales                             199                             148 
----------------------------------------------------------------------------
Net sales                          $  8,199                        $  7,358 
----------------------------------------------------------------------------
Adjusted                                                                    
 EBITDA                            $  2,243                        $  1,801 
Adjusted                                                                    
 EBITDA margin                           27%                             24%
----------------------------------------------------------------------------

Softwood, hardwood and biomass shipments were 18 thousand m3, 16 thousand m3 and 9 thousand m3, respectively, for the second quarter of 2013. Approximately 37% was sold as sawlogs, 43% as pulpwood and 20% as biomass. This compares to 52% sold as sawlogs, 35% as pulpwood and 13% as biomass in the second quarter of 2012.

Net sales for the second quarter of 2013 were $2.1 million (2012 - $1.9 million) with an average selling price across all log products of $57.30 per m3, comparable to the average log selling price of $55.99 per m3 during the second quarter of 2012. Results in the current quarter benefited from the sale of volumes harvested in the prior two quarters that were held in inventory. Net sales for the first six months ended June 29, 2013 were $8.2 million, an increase of $0.8 million over the first half of 2012.

Variable costs per m3 of logs harvested for the second quarter increased 3% compared to the prior year in U.S. dollar terms, and 6% in Canadian dollar terms, due to longer haul distances for hardwood pulpwood. However, total cash costs of $2.0 million were $0.1 million higher than the prior year as delayed road construction activity due to wet weather conditions during the quarter partially offset the harvest cost increases.

Adjusted EBITDA for the second quarter was $0.2 million, compared to nil in the comparable period of 2012. Adjusted EBITDA margin was 10% in the second quarter of 2013 as compared to nil during the second quarter of 2012.

We are pleased to report that during the second quarter of 2013, Maine Timberlands experienced no recordable safety incidents among employees or contractors.

Market Outlook

The following Market Outlook contains forward-looking statements about Acadian Timber Corp.'s market outlook for the remainder of fiscal 2013 and into 2014. Reference should be made to the "Forward-looking Statements" section of this news release. For a description of material factors that could cause actual results to differ materially from the forward-looking statements in the following, please see the Risk Factors section of our management's discussion and analysis of Acadian's most recent Annual Report and Annual Information Form available on our website at www.acadiantimber.com or filed with SEDAR at www.sedar.com.

The U.S. housing market continues to improve, albeit at a slower pace than experienced in early 2013. As of June 2013, U.S housing starts, as reported by the U.S. Census Bureau, are 10% above year-ago levels at 836 thousand while permits are up 16% year-over-year to 911 thousand. The outlook for U.S. housing continues to be positive with low inventories of new homes available for sale, improving rates of household formation, near record low mortgage rates and home prices up approximately 12% year-over-year. The first half of 2013 has offered a very positive indication of how we might expect markets to respond to the continued recovery of the U.S. housing market with Acadian's softwood sawlog customers seeking additional deliveries and supporting improved prices.

Our outlook for the remainder of 2013 and into 2014 remains positive as demand for spruce-fir sawlogs continues to be strong, despite the recent decline in softwood lumber pricing. Acadian's softwood sawmilling customers continue to maintain very active operations and appear to share our positive outlook for U.S. housing. Markets for hardwood sawlogs remain stable and appear to have a similar outlook for the foreseeable future.

After a recovery of regional softwood pulpwood markets in the second half of 2012 and early 2013, markets have softened as there has been an ample supply of sawmill residuals and raw material supplies at regional pulp mills have increased. This is particularly true in our New Brunswick operations where we expect markets for softwood pulpwood to be challenging through the remainder of 2013.

Markets for hardwood pulpwood have continued to be reasonably strong with Acadian's major hardwood pulp customers all operating suggesting that prices should remain stable through the remainder of 2013.

Biomass markets continue to have little momentum although Acadian continues to be able to sell all of its biomass with a stable outlook for gross margins.

Quarterly Dividend

Acadian is pleased to announce a dividend of $0.20625 per share, payable on October 15, 2013 to shareholders of record on September 30, 2013.

Acadian Timber Corp. is a leading supplier of primary forest products in Eastern Canada and the Northeastern U.S. With a total of 2.4 million acres of land under management, Acadian is the second largest timberland operator in New Brunswick and Maine.

Acadian owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine, and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands. Acadian also owns and operates a forest nursery in Second Falls, New Brunswick. Acadian's products include softwood and hardwood sawlogs, pulpwood and biomass by-products, sold to approximately 90 regional customers.

Acadian's shares are listed for trading on the Toronto Stock Exchange under the symbol ADN.

For further information, please visit our website at www.acadiantimber.com.

Forward-Looking Statements

This News Release contains forward-looking information within the meaning of applicable Canadian securities laws that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Acadian Timber Corp. and its subsidiaries (collectively, "Acadian"), or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this News Release, such statements may contain such words as "may," "will," "intend," "should," "expect," "believe," "outlook," "predict," "remain," "anticipate," "estimate," "potential," "continue," "plan," "could," "might," "project," "targeting" or the negative of these terms or other similar terminology. Forward-looking information in this News Release includes, without limitation, statements regarding management's beliefs,

intentions, results, performance, goals, achievements, future events, plans and objectives, business strategy, growth strategy and prospects, access to capital, liquidity and trading volumes, dividends, taxes, capital expenditures, projected costs, market trends and similar statements concerning anticipated future events, results, achievements, circumstances, performance or expectations that are not historical facts. These statements, which reflect management's current expectations regarding future events and operating performance, are based on information currently available to management and speak only as of the date of this News Release. All forward-looking statements in this News Release are qualified by these cautionary statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, should not be unduly relied upon, and will not necessarily be accurate indications of whether or not such results will be achieved. Factors that could cause actual results to differ materially from the results discussed in the forward-looking statements include, but are not limited to: general economic and market conditions; product demand; concentration of customers; commodity pricing; interest rate and foreign currency fluctuations; seasonality; weather and natural conditions; regulatory, trade or environmental policy changes; changes in Canadian income tax law; economic situation of key customers; Brookfield's ability to source and secure potential investment opportunities; the availability of potential acquisitions that suit Acadian's growth profile;

and other risks and factors discussed under the heading "Risk Factors" in each of the Annual Information Form dated March 28, 2013 and the Management Information Circular dated May 16, 2013, and other filings of Acadian made with securities regulatory authorities, which are available on SEDAR at www.sedar.com. Forward-looking information is based on various material factors or assumptions, which are based on information currently available to Acadian. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information may include, but are not limited to: anticipated financial performance; anticipated market conditions; business prospects; the economic situation of key customers; strategies; regulatory developments; exchange rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services and the ability to obtain financing on acceptable terms. Readers are cautioned that the preceding list of material factors or assumptions is not exhaustive. Although the forward-looking statements contained in this News Release are based upon what management believes are reasonable assumptions, Acadian cannot assure readers that actual results will be consistent with these forward-looking statements. The forward-looking statements in this News Release are made as of the date of this News Release, and should not be relied upon as representing Acadian's views as of any date subsequent to the date of this News Release. Acadian assumes no obligation to update or revise these forward-looking statements to reflect new information, events, circumstances or otherwise, except as may be required by applicable law.


Acadian Timber Corp.                                                        
Interim Consolidated Statements of Net Income                               
(unaudited)                                                                 
                                                                            
----------------------------------------------------------------------------
                                     Three Months Ended    Six Months Ended 
----------------------------------------------------------------------------
                                      June 29   June 30   June 29   June 30 
(CAD thousands)                          2013      2012      2013      2012 
----------------------------------------------------------------------------
                                                                            
Net sales                            $ 15,608  $ 14,257  $ 33,860  $ 32,905 
----------------------------------------------------------------------------
Operating costs and expenses                                                
    Cost of sales                      11,122    10,378    23,110    22,825 
    Selling, administration and                                             
     other                              1,542     1,536     3,146     2,971 
    Reforestation                         134       162       139       162 
    Depreciation and amortization         143       136       284       273 
----------------------------------------------------------------------------
                                       12,941    12,212    26,679    26,231 
----------------------------------------------------------------------------
Operating earnings                      2,667     2,045     7,181     6,674 
Interest expense, net                    (773)     (743)   (1,512)   (1,458)
Other items                                                                 
    Fair value adjustments              1,224       808     1,243       407 
    Unrealized exchange gain (loss)                                         
     on long-term debt                 (2,473)   (1,399)   (4,315)      370 
    Gain on sale of timberlands            87        15        87        19 
----------------------------------------------------------------------------
Earnings before income taxes              732       726     2,684     6,012 
Deferred tax expense                   (1,589)     (151)   (2,250)   (1,069)
----------------------------------------------------------------------------
Net (loss) / income for the period   $   (857) $    575  $    434  $  4,943 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Net (loss) / income per share -                                             
 basic and diluted                   $  (0.05) $   0.03  $   0.03  $   0.30 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Acadian Timber Corp.                                                        
Interim Consolidated Statements of Comprehensive Income                     
(unaudited)                                                                 
                                                                            
----------------------------------------------------------------------------
                                     Three Months Ended    Six Months Ended 
----------------------------------------------------------------------------
                                      June 29   June 30   June 29   June 30 
(CAD thousands)                          2013      2012      2013      2012 
----------------------------------------------------------------------------
                                                                            
Net (loss) / income                  $   (857) $    575  $    434  $  4,943 
----------------------------------------------------------------------------
Other comprehensive income (loss)                                           
Items that may be reclassified                                              
 subsequently to net income:                                                
    Unrealized foreign currency                                             
     translation income (loss)          2,670     1,655     4,880      (417)
    Amortization of derivatives                                             
     designated as hedges                 (45)      (49)      (95)      (98)
----------------------------------------------------------------------------
Comprehensive income                 $  1,768  $  2,181  $  5,219  $  4,428 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Acadian Timber Corp.                                                        
Interim Consolidated Balance Sheets                                         
(unaudited)                                                                 
                                                                            
----------------------------------------------------------------------------
As at                                                 June 29    December 31
(CAD thousands)                                          2013           2012
----------------------------------------------------------------------------
                                                                            
ASSETS                                                                      
Current Assets                                                              
  Cash and cash equivalents                       $     5,449    $     6,136
  Accounts receivable and other assets                  8,292          6,619
  Inventory                                               999          1,651
----------------------------------------------------------------------------
                                                       14,740         14,406
Timber                                                237,664        230,686
Land, roads and other fixed assets                     34,316         33,307
Intangible Assets                                       6,140          6,140
Deferred income tax asset                                   -            696
----------------------------------------------------------------------------
                                                  $   292,860    $   285,235
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY                                        
Current liabilities                                                         
  Accounts payable and accrued liabilities        $     6,280    $     4,685
  Dividends payable to shareholders                     3,451          3,451
----------------------------------------------------------------------------
                                                        9,731          8,136
Long-term debt                                         75,618         71,173
Deferred income tax liability                          25,192         21,924
Shareholders' equity                                  182,319        184,002
----------------------------------------------------------------------------
                                                  $   292,860    $   285,235
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Acadian Timber Corp.                                                        
Interim Consolidated Statements of Cash Flows                               
(unaudited)                                                                 
                                                                            
----------------------------------------------------------------------------
                                     Three Months Ended    Six Months Ended 
----------------------------------------------------------------------------
                                      June 29   June 30   June 30   June 30 
(CAD thousands)                          2013      2012      2013      2012 
----------------------------------------------------------------------------
Cash provided by (used for):                                                
----------------------------------------------------------------------------
Operating activities                                                        
Net (loss) / income                  $   (857) $    575  $    434  $  4,943 
Adjustments to net (loss) / income:                                         
    Deferred tax expense                1,589       151     2,250     1,069 
    Depreciation and amortization         143       136       284       273 
    Fair value adjustments             (1,224)     (808)   (1,243)     (407)
    Unrealized exchange (gain) loss                                         
     on long term debt                  2,473     1,399     4,315      (370)
    Interest expense, net                 773       743     1,512     1,458 
    Interest paid, net                   (778)      (16)   (1,522)     (736)
    Gain on sale of timberlands           (87)      (15)      (87)      (19)
Net change in non-cash working                                              
 capital and other                        684     1,008       530     2,889 
----------------------------------------------------------------------------
                                        2,716     3,173     6,473     9,100 
----------------------------------------------------------------------------
Financing activities                                                        
Dividends paid to shareholders         (3,451)   (3,451)   (6,902)   (6,902)
----------------------------------------------------------------------------
                                       (3,451)   (3,451)   (6,902)   (6,902)
----------------------------------------------------------------------------
Investing activities                                                        
Additions to timber, land, roads and                                        
 other fixed assets                      (345)      (95)     (345)     (110)
Proceeds from sale of timberlands          87        17        87        21 
----------------------------------------------------------------------------
                                         (258)      (78)     (258)      (89)
----------------------------------------------------------------------------
Increase (decrease) in cash and cash                                        
 equivalents during the period           (993)     (356)     (687)    2,109 
Cash and cash equivalents, beginning                                        
 of period                              6,442     6,484     6,136     4,019 
----------------------------------------------------------------------------
Cash and cash equivalents, end of                                           
 period                              $  5,449  $  6,128  $  5,449  $  6,128 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Reconciliations to Adjusted EBITDA and Free Cash Flow                       
                                                                            
----------------------------------------------------------------------------
                                     Three Months Ended    Six Months Ended 
----------------------------------------------------------------------------
                                      June 29   June 30   June 29   June 30 
(CAD thousands)                          2013      2012      2013      2012 
----------------------------------------------------------------------------
                                                                            
Net (loss) / income                  $   (857) $    575  $    434  $  4,943 
                                                                            
Add (deduct):                                                               
    Interest expense, net                 773       743     1,512     1,458 
    Deferred tax expense                1,589       151     2,250     1,069 
    Depreciation and amortization         143       136       284       273 
    Fair value adjustments             (1,224)     (808)   (1,243)     (407)
    Unrealized exchange (gain) loss                                         
     on long-term debt                  2,473     1,399     4,315      (370)
----------------------------------------------------------------------------
Adjusted EBITDA                         2,897     2,196     7,552     6,966 
Add (deduct):                                                               
    Interest paid on debt, net           (778)      (16)   (1,522)     (736)
    Additions to timber, land, roads                                        
     and other fixed assets              (345)      (95)     (345)     (110)
    Gain on sale of timberlands           (87)      (15)      (87)      (19)
    Proceeds on sale of timberlands        87        17        87        21 
----------------------------------------------------------------------------
Free cash flow                       $  1,774  $  2,087  $  5,685  $  6,122 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Dividends declared                   $  3,451  $  3,451  $  6,902  $  6,902 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Payout ratio                              195%      165%      121%      113%
----------------------------------------------------------------------------
----------------------------------------------------------------------------

(1) This news release makes reference to Adjusted EBITDA and Free Cash Flow which are key performance measures in evaluating Acadian's operations and are important in enhancing investors' understanding of Acadian's operating performance. Acadian's management defines Adjusted EBITDA as earnings before interest, taxes, fair value adjustments, recovery of or impairment of land and roads, unrealized exchange gain/loss on debt, depreciation and amortization and Free Cash Flow as Adjusted EBITDA less interest paid, current income tax expense, additions to, and gains from the sale of, fixed assets plus losses on, and proceeds from, the sale of fixed assets. As these performance measures do not have standardized meanings prescribed by International Financial Reporting Standards ("IFRS"), they may not be comparable to similar measures presented by other companies. As a result, we have provided in this news release reconciliations of net income, as determined in accordance with IFRS, to Adjusted EBITDA and Free Cash Flow.

Contacts: Acadian Timber Corp. Robert Lee Investor Relations and Communications 604-661-9607rlee@acadiantimber.com www.acadiantimber.com

Acadian Timber (TSX:ADN)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Acadian Timber Charts.
Acadian Timber (TSX:ADN)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Acadian Timber Charts.