Oct 23, 2012. /Lesprom Network/. Potlatch Corporation reported financial results for the 3Q ended September 30, 2012. Total consolidated revenues for the 3Q were $151.9 million, compared to $152.9 million in 3Q 2011 and $117.5 million in 2Q 2012, as the company said in the press release received by Lesprom Network. Net income for the 3Q was $18.6 million, or $0.46 per diluted share, compared to $25.6 million, or $0.63 per diluted share in 3Q 2011 and $5.1 million, or $0.13 per diluted share in 2Q 2012. EBITDDA was $37 million for 3Q 2012, compared to $44.8 million in 3Q 2011 and $22.6 million in 2Q 2012. "We are very pleased with our strong third quarter operating results, which exceeded our expectations. The stronger than anticipated demand for manufactured wood products that began in the first quarter has continued through the 3Q. Our Wood Products segment has now had two consecutive quarters of their highest quarterly operating income in over five years," said Michael Covey, chairman, president and CEO of Potlatch Corporation. "The improved lumber markets are also having a positive effect on prices for our Resource segment, primarily in Idaho. The results from our Resource segment increased in the third quarter due to increased harvest levels related to seasonal factors, along with the improved prices. Our Real Estate segment continues to perform well, having closed 28 sales transactions during the 3Q and 124 on a year-to-date basis," concluded Mr. Covey. During the 3Q, Potlatch paid a quarterly cash distribution on the company's stock of $0.31 per share. "We are very pleased with our 3Q and year-to-date results and expect continued strong performance as we move through the 4Q. In our Wood Products business, prices have begun their normal seasonal softening, but we expect prices to remain relatively firm. In fact, we anticipate lumber prices will bottom out in October or November before beginning to climb again in December as buyers will then be in the market preparing for 2013 and wanting to get ahead of the strengthening housing market. In our Resource segment, we continue to expect our 2012 harvest to be approximately 3.5 million tons. In general, our Resource segment is benefitting from the improved demand and higher lumber pricing in the wood products industry, particularly in Idaho. However, we expect log prices to decrease slightly in the 4Q, primarily due to seasonal factors and product mix. Nonetheless, as we look to 2013, we expect housing starts to continue to increase and anticipate firmer log and lumber prices in that year and beyond. We will provide an update on planned 2013 harvest levels during our 4Q earnings call in early 2013. Finally, we expect solid earnings in our Real Estate business for the 4Q with the planned $11 million conservation sale in addition to other attractive real estate sales," concluded Mr. Covey. Potlatch is a Real Estate Investment Trust (REIT) with approximately 1.43 million acres of timberland in Arkansas, Idaho and Minnesota. Potlatch, a verified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary.