Jan 25, 2011. /Lesprom Network/. Rayonier reported 4Q net income of $59 million, compared to $98 million in the prior year period. Full year net income was $218 million, compared to $313 million in 2009. Excluding the special items shown below, 4Q pro forma net income of $35 million, was comparable to the prior year’s pro forma net income of $33 million. Full year pro forma results of $182 million, increased from $120 million in 2009. Cash provided by operating activities was $495 million for 2010 compared to $307 million in 2009. Cash available for distribution4 (CAD) was $384 million compared to $233 million in 2009. “We executed well in 2010, increasing our pro forma EPS from $1.50 to $2.24 per share, a 49% increase,” said Lee M. Thomas, Chairman and CEO. “In Timber, we aligned our harvest to take advantage of stronger export and stumpage markets while holding off volume in less attractive markets, allowing our inventory value to build. In Performance Fibers, we had another record year driven by strong demand for our high purity cellulose specialties products and improved pricing for absorbent materials.” “Our decision to increase the December dividend by 8% to $0.54 per share reflects our strong operating cash flow and confidence in the future. This was our fifth dividend increase in seven years,” Thomas concluded. Timber segment: 4Q sales of $34 million were $1 million below the prior year period, while operating income was $7 million for both periods. Full year sales of $177 million increased $18 million from prior year, while operating income of $33 million was $26 million above 2009 results. In the Eastern region, 4Q and full year sales declined from the prior year periods as higher prices were more than offset by lower volumes as thinnings returned to more normalized levels. 4Q operating income was consistent with the prior year period, while full year operating income improved from 2009 reflecting higher margins. In the Western region, 4Q and full year sales and operating income improved from prior year periods primarily due to higher prices driven largely by stronger export demand. The price improvement was somewhat offset by a decline in volumes and increased logging costs. Rayonier is a leading international forest products company with three core businesses: Timber, Real Estate and Performance Fibers. The company owns, leases or manages 2.4 million acres of timber and land in the United States and New Zealand.