Rayonier Inc. reported 4Q 2018 net income of $2 million, or $0.02 per share, on revenues of $166.1 million. This compares to net income of $64.2 million, or $0.50 per share, on revenues of $239.7 million in the prior year quarter, as the company says in the press release received by Lesprom Network.
4Q operating income was $15 million versus $80.1 million in the prior year period. 4Q 2018 adjusted EBITD was $49.9 million versus $77.2 million in the prior year period.
Full-year 2018 net income was $102.2 million, or $0.79 per share, on revenues of $816.1 million.
Full-year operating income was $170.1 million versus $215.5 million in the prior year. The prior year operating income included $0.7 million of costs related to shareholder litigation and $67 million from Large Dispositions. Fullyear Adjusted EBITDA2 was $337.7 million versus $290.5 million in the prior year.
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand.