Potlatch reports 1Q net income of $5.7 million

Posted 四月 26, 2016
Apr 26, 2016. /Lesprom Network/. Potlatch Corporation reported net income of $0.2 million on revenues of $127.9 million for the quarter ended March 31, 2016. Net income was $5.7 million on revenues of $134.1 million in the 1Q 2015, as the company said in the press release received by Lesprom Network.

"We are encouraged by the increase in lumber prices thus far this year, and expect continued momentum to drive improved earnings in 2016 compared to last year," said Mike Covey, chairman and CEO. "Our Wood Products segment returned to profitability in the 1Q despite downtime at our St. Maries, Idaho sawmill due to log shortages. We expect the higher lumber prices to carry through to sawlog prices in Idaho for the balance of the year," 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.



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