Apr 25, 2011. /Lesprom Network/. Plum Creek Timber Company, Inc. announced 1Q earnings of $38 million, on revenues of $275 million. Earnings for the 1Q 2010 were $87 million, on revenues of $317 million. Cash provided by operating activities for the 1Q 2011 totaled $76 million. The company ended the quarter with $254 million in cash and cash equivalents. “This quarter’s performance highlights the importance of geographic diversity,” said Rick Holley, President and CEO. “Pacific Northwest log markets have improved significantly over the past twelve months on increased demand from both domestic and export customers. At the same time, Southern timber markets have declined from the price spikes of the first quarter of last year. With significant regional differences in market conditions, we are able to adjust our harvest plans to capture value in strong markets and protect value in weaker markets. “Within our Real Estate segment, earnings were as planned, but were down from the same period of 2010. This drove most of the decline in the company’s profit relative to the 1Q of last year. Our 2011 performance expectations in this segment are unchanged, and we are seeing improved interest levels in certain regional markets that were most impacted by the economic downturn. The pace of inquiries and level of interest shown in rural lands by both individuals and investors remains good. “Our expectations for 2011 remain on track and we continue to be encouraged by the positive structural changes we are starting to see in our timber markets. Increases in offshore demand are combining with anticipated reductions in North American timber supply to tighten some regional timber markets today. We expect these factors to positively impact broader log markets as the domestic economy and residential construction activity recover.” Plum Creek is the largest and most geographically diverse private landowner in the nation with approximately 6.8 million acres of timberlands in major timber producing regions of the United States and wood products manufacturing facilities in the Northwest.