Ainsworth Lumber Co. Ltd. has reported its unaudited financial results for the quarter ended September 30, 2009.

During the third quarter of 2009, Ainsworth's three active OSB mills operated at capacity, taking no demand related downtime. Our facility at High Level, Alberta remains idle until market conditions improve. Net income from continuing operations for the third quarter of 2009 was $21.6 million compared to a net loss of $42.3 million for the same period in 2008. The improvement was largely attributable to foreign exchange gains associated with the Company's outstanding U.S. dollar denominated debt.

Ainsworth President and CEO Rick Huff said, "We recorded positive EBITDA and net income in the third quarter of 2009 despite a decline in revenues as a result of persistent, challenging market conditions. We attribute much of this accomplishment to the strategic decisions we made to focus our resources on our best performing assets, divest underperforming ones, adjust our cost structure to meet the realities of this market, and better capitalize on the expertise and dedication of our people."

"We are committed to supporting our customers through all phases of the business cycle while focusing on safety, operational excellence and innovation. Going forward, we will remain disciplined with our capital and continue to identify new opportunities to diversify the business geographically outside North America and expand our leading portfolio of value-added product offerings. Our primary goal is to build Ainsworth into a company that is sustainable and profitable over the long-term," said Mr. Huff.

Source: Ainsowrth Lumber