WASHINGTON (dpa-AFX) - Rayonier Inc. (RYN) announced earnings for its fourth quarter that increased from last year and beat the Street estimates.
The company's bottom line totaled $327.1 million, or $2.15 per share. This compares with $126.9 million, or $0.85 per share, last year.
Excluding items, Rayonier Inc. reported adjusted earnings of $41.1 million or $0.27 per share for the period.
Analysts on average had expected the company to earn $0.20 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 55.5% to $726.3 million from $467 million last year.
Rayonier Inc. earnings at a glance (GAAP) :
-Earnings: $327.1 Mln. vs. $126.9 Mln. last year. -EPS: $2.15 vs. $0.85 last year. -Revenue: $726.3 Mln vs. $467 Mln last year.
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