WASHINGTON (dpa-AFX) - Rayonier Inc. (RYN) released a profit for its second quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $28.8 million, or $0.19 per share. This compares with $19.2 million, or $0.13 per share, in last year's second quarter.
Analysts on average had expected the company to earn $0.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 3.3% to $195.0 million from $201.6 million last year.
Rayonier Inc. earnings at a glance (GAAP) :
-Earnings (Q2): $28.8 Mln. vs. $19.2 Mln. last year. -EPS (Q2): $0.19 vs. $0.13 last year. -Revenue (Q2): $195.0 Mln vs. $201.6 Mln last year.
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