West Fraser Timber Co. Ltd. (TSX:WFT) continues to be battered by low lumber prices and the high Canadian dollar, both of which have resulted in significant first-quarter loses for the Vancouver-based forest products company.
West Fraser reported a loss of $69 million, or $1.60 a share, in the quarter, compared with a loss of $5 million, or $0.12 a share, in 2007's first quarter. However, sales were $772 million for the quarter compared with $759 million during the same period a year earlier.
The downbound U.S. housing market has been another key contributor to West Fraser's higher losses.
West Fraser's share price range during the past week: between $33.59 and 34.80; 52-week high: $42.36; 52-week low: $26.51.