Potlatch Corp. (PCH) Tuesday said it turned to profit in the fourth quarter, as its wood products segment experienced a real turnaround in its markets, with strong demand for manufactured wood products resulting in sharply higher prices.
The company reported a profit of $13.9 million or $0.34 per share for the quarter, compared to a loss of $1.5 million or $0.04 per share in the same period last year.
On average, eight analysts polled by Thomson Reuters expected the company to earn $0.32 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased to $143.30 million from $109.30 million last year. Analysts expected revenues of $136.83 million.
by RTT Staff Writer
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