Oct 24, 2011. /Lesprom Network/. Plum Creek Timber Company, Inc. announced 3Q earnings of $50 million on revenues of $293 million. Earnings for the 3Q 2010 were $32 million on revenues of $259 million, as the company said in a press release received by Lesprom Network. Earnings for the first nine months of 2011 were $132 million on revenues of $852 million. Earnings for the first nine months of 2010 were $154 million on revenues of $834 million. Results for the first nine 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 nine months was $143 million. Cash provided by operating activities during the first nine months of 2011 totaled $294 million. The company ended the 3Q with $291 million in cash and cash equivalents. “Business conditions were largely unchanged during the past quarter, with relatively attractive pulpwood markets in most regions, healthy sawlog markets in the Northwest and Northeast and continued weak sawlog markets in the South. Our results for the quarter came in much as we anticipated,” said Rick Holley, president and CEO. “The company’s balance sheet remains healthy and we continue to have excellent financial flexibility. We continue to manage our portfolio of timber and land assets to maximize the long-term value of the company on a per-share basis. Consistent with this strategy, we completed the acquisition of 50,000 acres of timberlands in Georgia and Alabama during the quarter in addition to repurchasing nearly $25 million of stock,” continued Holley. Plum Creek is the largest and most geographically diverse private landowner in the nation with approximately 6.7 million acres of timberlands in major timber producing regions of the United States and wood products manufacturing facilities in the Northwest.