Potlatch Corporation reported net income of $16.9 million, or $0.41 per diluted share, on revenues of $149.7 million for the 1Q ended March 31, 2017.

Timberlands

Potlatch Corporation reported 1Q net income of $16.9 million

Potlatch Corporation reported net income of $16.9 million, or $0.41 per diluted share, on revenues of $149.7 million for the 1Q ended March 31, 2017.

Net income was $0.2 million, or $0.00 per diluted share, on revenues of $127.9 million in the 1Q 2016.

"Higher lumber prices continue to drive results in our Resource and Wood Products segments, resulting in strong first quarter earnings," said Mike Covey, chairman and CEO. "We were pleased with the preliminary countervailing duty announcement on Canadian lumber earlier this week and look forward to the antidumping announcement near the end of June. Record cedar log prices in Idaho contributed to our strong results as well as closing a land conservation sale for almost $2,600 per acre," stated Mr. Covey.

Potlatch is a Real Estate Investment Trust (REIT) with approximately 1.4 million acres of timberland in Alabama, Arkansas, Idaho, Minnesota and Mississippi.