Potlatch Q1 Net Income Rises - Quick Facts

(RTTNews) - Potlatch Corp. (PCH), a Real Estate Investment Trust that owns and manages timberlands, Tuesday said first-quarter net income increased to $20.3 million or $0.50 per share from $15.5 million or $0.38 per share in the previous year.

On average, seven analysts polled by Thomson Reuters expected earnings of $0.44 per share. Analysts estimates typically exclude special items.

Revenues were $139.6 million compared to $139.3 million in the first quarter of 2013. Analysts expected revenues of $146.15 million.

Operating income improved to $31.31 million from $26.61 million.

Michael Covey, chairman and chief executive officer, said, ''Each of our business segments managed the effects of the harsh winter weather effectively and delivered solid results in the first quarter...we expect demand and prices for Idaho sawlogs and lumber to remain strong. We believe that Southern pine sawlog prices in our wood basket will recover over the longer term.''