Plum Creek Profit Rises

(RTTNews) - Plum Creek Timber Co Inc (PCL) on Monday reported first-quarter net earnings of $42 million or $0.24 per share compared with $30 million or $0.17 per share last year.

Revenues for the quarter were $406 million compared with $317 million a year ago.

"The company performed well despite overall business conditions starting off slower than many industry experts initially anticipated," said CEO Rick Holley.

For the second quarter, Plum Creek expects income of $0.05 to $0.10 per share.

For the full year 2015, the company still projects income of $1.05 to $1.30 per share, and expects to harvest between 19 and 20 million tons of timber.

"We've started 2015 with good performance from our timber, manufacturing and energy and natural resource businesses," said CEO Holley. "As expected, our second quarter results will be the lowest of the year due to the normal seasonal reduction in our Northern Resources segment harvest and the timing of our planned real estate transactions."