Montreal-based Stella-Jones posted Thursday a decline in profit and revenue for the first quarter.
The company generated a quarterly profit of $25.9 million or 37 cents per share, compared to $35 million or 51 cents per share at the same time last year.
Its revenues declined from $421 million a year ago to $396.9 million this year.
Stella-Jones explained in a news release that results for the first quarter of fiscal 2017 reflect “as expected” a decrease in volume and a decline in selling prices in the category of railway ties.
Railway tie sales were $158.5 million, compared to $ 200.3 million in the first quarter last year. Utility pole sales were $151 million, up 14.5 per cent from $131.8 million last year. Sales in the residential lumber category totalled $38.6 million compared to $41.9 million a year earlier.