Vancouver, British Columbia-based Tree Island Wire Fund announced Tuesday revenues of $38 million Q2, little changed from Q2 2010 revenues of $38.7 million. Tree Island Wire Income Fund (Tree Island) is the parent of Richmond, British Columbia-based Tree Island Industries Ltd, a producer of steel wire products for construction, agricultural, manufacturing and industrial applications.
In a press release, Tree Island explained that revenues in Q2 reflected stable sales volumes and higher product prices, offset by the negative impact of a strong Canadian dollar on US-generated sales. Net income improved during Q2 and amounted to $29,000 per unit, versus a net loss of $0.2 million per unit in Q2 2010.