Potlatch Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012
January 29, 2013 at 09:50 pm IST
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Potlatch Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported revenues of USD 143.299 million compared to USD 109.927 million a year ago. Operating income was USD 26.570 million compared to USD 1.868 million a year ago. Income before income taxes were USD 20.074 million compared to loss before income taxes of USD 4.838 million a year ago. Net income was USD 13.864 million compared to net loss of USD 1.478 million a year ago. Basic and diluted earnings per share were USD 0.34 compared to basic and diluted loss per share of USD 0.04 a year ago. EBITDDA was USD 36.401 million compared to USD 7.806 million a year ago.
For the year, the company reported revenues of USD 525.134 million compared to USD 497.421 million a year ago. Operating income was USD 84.942 million compared to USD 72.240 million a year ago. Income before income taxes were USD 59.403 million compared to USD 44.411 million a year ago. Net income was USD 42.594 million compared to USD 40.266 million a year ago. Diluted earnings per share were USD 1.05 compared to USD 1.00 a year ago. Net cash provided by operating activities were USD 79.981 million compared to USD 77.425 million a year ago. Additions to property, plant and equipment was USD 5.636 million compared to USD 5.338 million a year ago. Additions to timber and timberlands were USD 23.552 million compared to USD 11.548 million a year ago. EBITDDA was USD 114.370 million compared to USD 109.915 million a year ago.
PotlatchDeltic Corporation is a real estate investment trust (REIT) with operations in approximately nine states. The Company operates through three segments: Timberlands, Wood Products, and Real Estate. Timberlands segment includes planting and harvesting trees and building and maintaining roads. Wood Products segment manufactures, and markets lumber and plywood. Its products are sold to end users, retailers or wholesalers for nationwide distribution primarily for use in home building, repair and remodeling, industrial products and other construction activity. Real Estate segment consists primarily of the sale of rural land and real estate development and subdivision activity. The Company also own six sawmills and an industrial grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program. It owns approximately 2.2 million acres of timberland in Alabama, Arkansas, Idaho, Georgia, Louisiana, Mississippi, and South Carolina.