Ainsworth posts net earnings of $15.7 million

Ainsworth Lumber Co. Ltd. has reported a net income of $15.7 million in its first quarter compared to a net loss of $34.0 million in the first quarter of 2009.

Ainsworth President and CEO Rick Huff said, "The first quarter of 2010 was marked by improving financial performance for Ainsworth. With the changes we made to the business in 2009, we entered 2010 lean, focused and well positioned to benefit from the rise in OSB prices during the first three months of the year."

"We are continuing to execute on the strategic plan we developed in 2009. This plan advances our ability to deliver innovative value-added products, increases the geographic diversity of our sales, positions the Company well for future growth, and supports our commitment to managing our cash responsibly while operating safely and efficiently," added Mr. Huff.

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Ainsworth Announces 2010 First Quarter Results (Ainsworth)