Deltic Timber Corporation announced that it has amend and restate the company's revolving credit agreement originally dated September 9, 2005 and which was thereafter amended on August 7, 2007, and again on February 4, 2011. Pursuant to the May 2, 2013 amendment and restatement of the Credit Agreement: (1) the amount of the aggregate revolving credit commitments under the credit agreement was increased from $297.5 million to $340 million; (2) the term of the credit agreement, subject to other provisions, was extended to May 1, 2018; and (3) the pricing of applicable margins and commitment fees percentages were amended as reflected on Schedule I of the credit agreement. Under the company's amended and restated Credit Agreement, SunTrust Bank is a lender and is Administrative Agent for the other existing lenders, which are: American AgCredit, PCA; JPMorgan Chase Bank, N.A.; Regions Bank; Wells Fargo Bank, N.A.; BancorpSouth Bank; Bank of America, N.A.; IBERIABANK; and for two new lenders, Cooperatieve Centrale Raiffeisen-Boerenleenbank, B.A. Rabobank Nederland, New York Branch and Branch Banking and Trust Company.

The Board of Directors of Deltic Timber Corporation declared a quarterly dividend of $0.100 a share on the common stock. The dividend is payable on June 17, 2013, to holders of record June 3, 2013.

Deltic Timber Corporation announced preliminary consolidated earnings and operating results for the first quarter of fiscal 2013. For the quarter, the company announced net sales of $41,563,000 compared to $30,639,000 for the same period a year ago. Net income was $6,774,000 compared to $97,000 for the same period a year ago. Earnings per common share, basic and assuming dilution was 0.53 compared to 0.01 for the same period a year ago. Increase in net income was mainly due to the performance of the company's Manufacturing segment, which improved $9.7 million over the prior year's first quarter operating income. Net cash provided by operating activities was $9 million in the first quarter of 2013, which compares to $2.1 million a year ago. Capital expenditures were $13.4 million for 2013's first quarter and $3.7 million in 2012's first quarter. The increase was due mainly to timberland acquisitions in the first quarter of 2013. For the quarter, the company harvested 181,069 tons of pine sawtimber during the current period of 2013, a 5% increase from the 173,007 tons harvested in the first quarter of 2012. Pine pulpwood harvested in the first quarter of 2013 totaled 97,010 tons, which compares to 134,934 tons harvested for the same period of 2012. During the current quarter, the company sold 288 acres of non-strategic recreational-use hardwood bottomland at an average sales price of $1,800 per acre versus first quarter sales in 2012 of 270 acres at an average price of $1,400 per acre. In the first quarter of 2013, the company sold 71.1 million board feet, an increase of 6.1 million board feet when compared to 2012's first quarter sales of 65 million board feet, as the company increased lumber production to match market demand. The company provided sales and operating guidance for the second quarter and full year of fiscal 2013. For the quarter, the company anticipates the pine sawtimber harvest to be 160,000 tons to 170,000 tons. Finished lumber sales volumes are anticipated to be at 65 million to 75 million board feet. MDF sales volumes are estimated to be 30 million to 32 million square feet. Actual sales volumes for both lumber and MDF are dependent upon market conditions. Residential lot sales are estimated at 10 lots to 15 lots. For the year, the company anticipates the pine sawtimber harvest to be 585,000 tons to 605,000 tons. Finished lumber sales volumes are anticipated to be at 275 million to 290 million board feet for the year. MDF sales volumes are estimated to be 120 million to 130 million square feet. Actual sales volumes for both lumber and MDF are dependent upon market conditions. Residential lot sales are estimated at 50 lots to 60 lots.