SPOKANE, Wash., Oct. 22, 2012 (GLOBE NEWSWIRE) -- Potlatch Corporation (Nasdaq:PCH) today reported financial results for the third quarter ended September 30, 2012.
"We are very pleased with our strong third quarter operating results, which exceeded our expectations. The stronger than anticipated demand for manufactured wood products that began in the first quarter has continued through the third quarter. Our Wood Products segment has now had two consecutive quarters of their highest quarterly operating income in over five years," said Michael Covey, chairman, president and chief executive officer of Potlatch Corporation. "The improved lumber markets are also having a positive effect on prices for our Resource segment, primarily in Idaho. The results from our Resource segment increased in the third quarter due to increased harvest levels related to seasonal factors, along with the improved prices. Our Real Estate segment continues to perform well, having closed 28 sales transactions during the third quarter and 124 on a year-to-date basis," concluded Mr. Covey.
Q3 2012 Financial Summary
- Total consolidated revenues for the quarter were $151.9 million, compared to $152.9 million in Q3 2011 and $117.5 million in Q2 2012.
- Net income for the quarter was $18.6 million, or $0.46 per diluted share, compared to $25.6 million, or $0.63 per diluted share in Q3 2011 and $5.1 million, or $0.13 per diluted share in Q2 2012.
- EBITDDA was $37.0 million for Q3 2012, compared to $44.8 million in Q3 2011 and $22.6 million in Q2 2012.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV