Potlatch Corp., of Spokane, reported this morning second-quarter net income of $19.2 million, or 47 cents a diluted share, up from $5.1 million, or 13 cents a share, in the year-earlier period.
Potlatch reports second-quarter revenues of $133.2 million, up from $117.5 million in the year-earlier quarter.
Michael Covey, president and CEO at Potlatch, said in a press release that all of the company's business segments had strong operating results in the latest quarter despite weakness in lumber prices and seasonality of log harvesting activity.
"Our wood products segment had its best quarter in almost a decade," Covey said.
Wood products revenues totaled $95 million in the second quarter, up from $83.6 million in the year-earlier period.
Covey added that the company's real estate segment had 65 sales during the latest quarter, its highest ever number of quarterly transactions. Total real estate sales volume fell, though, to $5.8 million, down from $8.7 million in the year-earlier quarter.