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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549



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FORM 10-K/A



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(Mark One)

|x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ------------------------------------------------------------------------------------



For the fiscal year ended December 31, 2003



OR



| ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Commission file number 1-12147



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DELTIC TIMBER CORPORATION

(Exact name of registrant as specified in its charter)



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|                                                                   |  |                                        
|------------------------------------------------------------------ |  | ---------------------------------------
|Delaware                                                           |  | 71-0795870                             
|(State or other jurisdiction of incorporation or organization)     |  | (I.R.S. Employer Identification Number)
|                                                                   | 
|210 East Elm Street, P. O. Box 7200, El Dorado, Arkansas           |  | 71731-7200                             
|(Address of principal executive offices)                           |  | (Zip Code)                             
|                                                                  
|Registrants telephone number, including area code: (870) 881-9400





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Securities registered pursuant to Section 12(b) of the
Act:



|                                  |  |                                          
|--------------------------------- |  | -----------------------------------------
|Title of each class               |  | Name of each exchange on which registered
|                                  | 
|Common Stock, $.01 Par Value      |  | New York Stock Exchange, Inc.            
|                                  | 
|Series A Participating Cumulative |  | New York Stock Exchange, Inc.            
|Preferred Stock Purchase Rights   |  |                                          



Securities
registered pursuant to Section 12(g) of the Act: None



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Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days.    Yes  xNo ̈.



Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation
S-K is not contained herein, and will not be contained, to the best of registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x



Indicate by check mark whether the
registrant is an accelerated filer (as defined in Rule 12b-2 of the Securities Exchange Act of 1934).    Yes  xNo ̈.



The aggregate market value of the Common Stock held by non-affiliates of the registrant, based on the average of the high and low prices of the Common Stock on the New York Stock Exchange on February 29, 2004, was
$216,725,661. For purposes of this computation, all officers, directors, and 5% beneficial owners of the registrant (as indicated in Item 12) are deemed to be affiliates. Such determination should not be deemed an admission that such directors,
officers, or 5% beneficial owners are, in fact, affiliates of the registrant.



Number of shares of Common Stock, $.01 Par Value, outstanding at February 29, 2004, was 12,021,269.



Documents incorporated by reference:



The Registrants definitive Proxy Statement relating to the Annual Meeting of Stockholders on April 22, 2004.



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