Q4 2019 Conifex Timber Inc Earnings Call Transcript
Good morning, ladies and gentlemen, welcome to the Conifex Timber Q4 2019 Results Conference Call. I would now like to turn the meeting over to Mr. Ken Shields, CEO. Please go ahead, Mr. Shields.
Well, thank you, Valerie, and good morning, everyone, and welcome to this call covering our Q4 '19 and full year 2019 Results. Our Chief Financial Officer, Yuri Lewis, is with me and available to respond to questions you may have at the end of the call.
The financial results we released this morning disclosed that we incurred a significant loss in 2019 due to a combination of operating losses and noncash write-downs of goodwill associated with discontinued operations. Looking at operating losses, these primarily reflect weak lumber pricing and the margin squeeze that impacted interior BC lumber producers. We responded by tightly managing controllable expenses and working capital, and by scaling back CapEx.
Later in 2019, we indefinitely curtailed our Fort St. James and El Dorado,
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