Potlatch Corporation reported net income of $16.3 million, or $0.40 per diluted share, on revenues of $143.9 million for the quarter ended June 30, 2014. This compares to net income of $19.2 million, or $0.47 per diluted share, on revenues of $133.2 million in the 2Q 2013.

Potlatch reports 2Q net income of $16.3 million

14:52 / July 23, 2014

Jul 23, 2014. /Lesprom Network/. Potlatch Corporation reported net income of $16.3 million, or $0.40 per diluted share, on revenues of $143.9 million for the quarter ended June 30, 2014. This compares to net income of $19.2 million, or $0.47 per diluted share, on revenues of $133.2 million in the 2Q 2013, as the company said in the press release received by Lesprom Network.

"Increased activity in the housing market resulted in stronger takeaway for our lumber business in the quarter and we closed over 40 transactions in our Real Estate business as the effects of the harsh winter faded," said Michael Covey, chairman and CEO of Potlatch Corporation. "We expect strong results in our Wood Products and Resource businesses in the second half of the year, particularly given that the 3Q is our seasonally highest harvest quarter. This quarter, our Real Estate segment also closed the second of two large sales that we planned this year. Our earnings are on track to increase for the third consecutive year," concluded Mr. Covey.

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

Lesprom Network

Potlatch reports 2Q net income of $16.3 million

Tags

Topics

Markets

Interesting to see