For the first six months of 2015, net income attributable to Rayonier was $16.2 million, versus $57.8 million the prior year period.
Pro forma net income was $17.8 million, versus $18.5 million in the prior year period.
Adjusted EBITDA was $33.1 million for the 2Q 2015 versus $70.2 million in the prior year period.
Adjusted EBITDA was $94.6 million for the first six months of 2015 versus $113.7 million in the prior year period.
“In Southern Timber, higher volumes and prices compared with the prior year quarter reflected continued strong demand in our key market areas,” said David Nunes, President and CEO. “However, reductions in harvest volumes in the Pacific Northwest coupled with lower prices in the Pacific Northwest and New Zealand, primarily due to weaker demand from China, negatively impacted results in these segments. In Real Estate, sales of significantly fewer acres of non-strategic timberlands and the timing of closings led to lower results this quarter than in the prior year period.”
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive timber growing regions in the U.S. and New Zealand.
