Catchmark Timber Trust (CTT) Reports Q1 Loss of $0.02
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CatchMark First Quarter Results Register 128% Increase in Total Revenues; Adjusted EBITDA Up 464% Year-Over-Year; Second Quarter Dividend Declared
May 4, 2015 4:21 PM EDTATLANTA, May 4, 2015 /PRNewswire/ -- Benefiting from successful integration of recent timberland acquisitions, CatchMark Timber Trust, Inc. (NYSE: CTT) today announced strong year-over-year growth for the quarter ended March 31, 2015.
Company highlights for the first quarter of 2015 include:
Increased revenues to $20.2 million for the three months ended March 31, 2015 from $8.9 million for the three months ended March 31, 2014, a 128% increase. Increased Adjusted EBITDA to $11.0 million compared to $1.9 million in the three months ended March 31, 2014, a 464% increase. Increased gross timber sales revenue by approximately 62% over first quarter 2014 to $13.1 million,... More