Potlatch Q4 Profit Edges Down, EPS Flat - Quick Facts

(RTTNews) - Potlatch Corp. (PCH) reported fourth-quarter of 2013 net income of $13.7 million, or $0.34 per share, compared to net income of $13.9 million, or $0.34 per share in the fourth quarter of 2012. Analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

Cash distribution per share was $0.35 up from $0.31 last year.

Quarterly revenues declined to $140.0 million from last year's $143.3 million. Eight analysts estimated revenues of $140.68 million for the quarter.

Looking ahead, the company said it expects further increases in housing starts, which will continue to bolster the operating results of its Resource and Wood Products segments. It plans to harvest 3.8 million tons in 2014. Demand and prices in its wood basket in the South need to increase before considering a meaningful increase in its annual harvest.

"Our Real Estate business is expected to remain strong as interest in rural recreational real estate continues to be solid. Our year-end liquidity position is excellent, which provides financial flexibility," said Michael Covey, chairman and chief executive officer.