Jul 27, 2010. /Lesprom Network/. Plum Creek Timber Company, Inc. announced 2Q earnings of $35 million, on revenues of $258 million. Earnings for the 2Q 2009 were $32 million, on revenues of $272 million. Earnings for the first six months of 2010 were $122 million, on revenues of $575 million. Results for the first six months of 2010 include an $11 million after-tax gain on the 1Q sale of certain natural gas assets. As a result, income from continuing operations for the first six months was $111 million. Earnings for the first six months of 2009 were $189 million, on revenues of $742 million. Cash provided by operating activities for the 2Q 2010 totaled $78 million. The company ended the quarter with $250 million in cash and cash equivalents. “Our 2Q results were better than expected,” said Rick Holley, Plum Creek’s President and CEO. “Northern sawlog prices, both softwood in the Pacific Northwest and hardwood in the Lake States and Northeast improved more than we had initially anticipated. Pulpwood markets throughout the country remained attractive, and improved demand from industrial panel customers led to solid gains in our manufacturing segment. In addition, activity in our real estate segment was better than expected.” Looking ahead, the company estimated 3Q earnings from continuing operations of 20 cents to 25 cents a share. The company also raised the low end of its year view by 5 cents, saying it's now looking for $1.35 to $1.50 a share. Plum Creek is the largest and most geographically diverse private landowner in the nation with approximately 7 million acres of timberlands in major timber producing regions of the United States and wood products manufacturing facilities in the Northwest.