Feb 11, 2010. /Lesprom Network/. Potlatch Corp. reported 4Q net income rose to $2.9 million, or 7 cents per share, from a loss of $4.3 million, or a loss of 11 cents per share a year earlier. Revenues rose to $104 million from $93.6 million in 2008, as Puget Sound Business Journal reported. For fiscal 2009, Potlatch reported earnings of $77.3 million, or $1.93 per diluted share, and revenues of $476 million, In 2008, Potlatch reported net earnings of $52.6 million, or $1.32 per diluted share, and revenues of $440 million. Company officials were optimistic about 2010. “We expect operations in the first half to remain challenging but expect improved fundamentals as we move into the second half. We do expect an upturn in the housing market, but not until the second half of the year ... We remain optimistic about our long term prospects, as our businesses are positioned well for the housing market recovery,” said Michael Covey, Chairman, President and CEO, in a statement. Last year, Potlatch spun off its pulp-based business called Clearwater Paper Corp. Potlatch is a Real Estate Investment Trust (REIT) with approximately 1.6 million acres of timberland in Arkansas, Idaho, Minnesota and Wisconsin.