This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Pope Resources Reports Third Quarter Net Income Of $1.1 Million

Pope Resources (NASDAQ:POPE) reported net income attributable to unitholders of $1.1 million, or $0.22 per diluted ownership unit, on revenue of $8.6 million for the third quarter ended September 30, 2010. This compares to net income attributable to unitholders of $920,000, or $0.20 per diluted ownership unit, on revenue of $6.6 million for the comparable period in 2009.

Net income attributable to unitholders for the nine months ended September 30, 2010, totaled $375,000, or $0.07 per diluted ownership unit, on revenue of $22.6 million. Net income attributable to unitholders for the corresponding period in 2009 totaled $104,000, or $0.02 per diluted ownership unit, on revenue of $15.3 million.

Cash provided by operations for the quarter ended September 30, 2010, was $4.2 million, compared to $884,000 for the third quarter of 2009. For the nine months ended September 30, 2010, cash provided by operations was $5.3 million, compared to cash used by operations of $191,000 for the first nine months of 2009.

“Strong log demand from China contributed to higher harvest levels and a significantly higher export mix, both of which led to improved performance,” said David L. Nunes, President and CEO. “We were able to successfully navigate this year’s volatile log markets to deliver higher than anticipated profit and cash flow. While business challenges remain for both our industry and company, the same economic forces that have created operational challenges have also provided opportunities to grow our asset base. In the third quarter, we acquired, on behalf of ORM Timber Fund II, two tree farms totaling over 25,000 acres for a combined purchase price of $58 million. We expect these properties to generate significant cash flows for both Pope Resources and Fund II’s non-controlling interests in the years to come. In addition, these lands will generate management fees, improve economies of scale, and position us to capitalize on future improvements in log prices.”

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs