Apr 24, 2012. /Lesprom Network/. Rayonier reported 1Q 2012 net income of $53 million, or 42 cents per share, compared to $58 million, or 47 cents per share, in the prior year period. Cash provided by operating activities was $111 million compared to $116 million in 1Q 2011. Cash available for distribution was $87 million versus $88 million in 1Q 2011, as the company said in a press release received by Lesprom Network. “We are pleased with our 1Q results which were better than expected and create a solid base for full year performance,” said Paul G. Boynton, President and CEO. “In Forest Resources, we increased harvest volumes to take advantage of stronger pulpwood markets in the Atlantic region and successfully integrated the 320,000 acres of timberlands acquired last year. In Performance Fibers, we implemented our previously announced cellulose specialties price increases, driven by continued strong demand, and executed planned maintenance shutdowns at both of our manufacturing facilities. “In February, Moody’s Investors Services raised our investment grade debt rating to ‘Baa1.’ In March, we successfully issued $325 million of 3.75% Senior Notes due in 2022. With our strong liquidity, balance sheet and cash flow, we are well positioned to pursue growth initiatives,” added Boynton. “We are well positioned for another strong operating year in 2012,” added Boynton. “In Forest Resources, we will continue capitalizing on local market opportunities in our Atlantic and Gulf regions, while in the Northwest we plan to increase harvest volumes as Asian markets improve. In Performance Fibers, we anticipate another record year driven by strong cellulose specialties markets and we are on track to complete our cellulose specialties expansion project by mid-2013, as planned. We expect full year earnings to be comparable to 2011, excluding special items, and CAD to range from $285 million to $310 million, substantially above our dividend,” Boynton concluded. Rayonier is a leading international forest products company with three core businesses: Forest Resources, Real Estate and Performance Fibers. The company owns, leases or manages 2.7 million acres of timber and land in the United States and New Zealand.