Feb 13, 2009. /Lesprom Network/. Potlatch Corp. has slipped to loss in the 4Q compared to year-ago profit, reflecting extremely weak performance by the company's wood products segment and significant losses from discontinued operations, the company said in a press release received by Lesprom Network. Net loss was $4.35 million or $0.11 per share, compared to profit of $11.25 million or $0.28 per share in the year ago period. Net income from continuing operations fell to $5.43 million or $0.14 per share from $7.51 million or $0.19 per share in the prior-year quarter. Revenues declined to $93.58 million from $101.65 million in the same period last year. Revenue from resources remained flat at $65.41 million year-over-year. Though the segment performed with higher harvest levels in both the southern and northern regions, it was adversely impacted by lower prices. Real estate revenues dropped to $2.88 million from $11.78 million in the corresponding period last year. The company attributed the lower revenues to the decreased acreage sold, which slid the about 2 thousand acres from about 6,900 acres last year. Net revenues from wood products declined to $52 million from $61.32 million in the prior-year period. Potlatch noted that due to the continuing weak market conditions, most of its lumber mill operations were down from one to two weeks during the latest quarter. Operating income rose to $15.91 million from $10.55 million in the comparable year-ago quarter. During the recent quarter, Potlatch said it completed the spin-off of its pulp-based manufacturing businesses and the Lewiston, Idaho lumber mill into a separate company called Clearwater Paper Corp. For the full year, net loss was $46.95 million or $1.32 per share, compared to profit of $59.83 million or $1.43 per share in the previous year. Full-year loss from continuing operations declined to $68.84 million or $1.73 per share from $72.33 million or $1.84 per share last year. Revenues increased to $439.96 million from $423.47 million last year. Potlatch is a Real Estate Investment Trust (REIT) with approximately 1.6 million acres of timberland in Arkansas, Idaho, Minnesota and Wisconsin. 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.