Pope Resources reported net income attributable to unitholders of $4.6 million, or $1.05 per ownership unit, on revenue of $43.5 million for the quarter ended December31, 2016.
This compares to net income attributable to unitholders of $2.2 million, or $0.51 per ownership unit, on revenue of $22.0 million for the comparable period in 2015.
The 4Q 2016 results include a $7.7 million increase in the environmental remediation liability for the former millsite at Port Gamble, Washington. Excluding this charge, adjusted net income for the 4Q 2016 was $12.3 million, or $2.82 per ownership unit.
Net income attributable to unitholders for the year ended December31, 2016 totaled $5.9 million, or $1.35 per ownership unit, on revenue of $80.4 million.
Excluding the $7.7 million environmental remediation charge, adjusted net income was $13.6 million, or $3.14 per ownership unit for the year ended December31, 2016.
For the year ended December31, 2015 the Partnership reported net income attributable to unitholders of $10.9 million, or $2.51 per ownership unit, on revenue of $78.0 million.
Pope Resources, a publicly traded limited partnership, and its subsidiaries Olympic Resource Management and Olympic Property Group, own or manage 208,000 acres of timberland and development property in Washington, Oregon, and California.
