Jan 27, 2009. /Lesprom.com/. Rayonier Inc. has reported 4Q net income of $44.3 million or $0.55 per share, compared to $34.4 million or $0.44 per share in the same quarter last year, the company said in a statement received by Lesprom Network. Income from continuing operations for the quarter was $42.1 million or $0.53 per share, compared to $35.0 million or $0.44 per share in the prior year quarter. Sales for the quarter increased to $354.0 million from $281.5 million in the comparable quarter last year. Analysts expected the company to report revenue of $336.54 million for the quarter. Lee M. Thomas, Chairman, President and CEO said, “Despite uncertain economic times, we expect our diverse mix of businesses to generate strong cash flows well in excess of our $2.00 per share dividend. With conservative debt levels, manageable debt maturities and a solid balance sheet, we should have significant operating flexibility.” “Due to the weak economy, we anticipate 2009 results will be below 2008 across our three major business units,” said Thomas. “We expect that the weakened housing market will negatively impact our timber and real estate businesses, but anticipate continued interest in our non-strategic timberlands. In Performance Fibers, earnings are expected to be solid although below 2008 as strong demand for our cellulose specialties products is more than offset by higher costs and weakening fluff prices,” Thomas added. Rayonier is a leading international forest products company with three core businesses: Timber, Real Estate and Performance Fibers. The company owns, leases or manages 2.6 million acres of timber and land in the United States and New Zealand.