Potlatch Q3 Profit Rises

(RTTNews) - Potlatch Corp. (PCH) Monday reported third-quarter net income of $33.2 million or $0.81 per share, up from $22.2 million or $0.54 per share last year.

Revenues for the quarter were $177.2 million, up from $157.9 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.83 per share on revenues of $186.46 million for the quarter. Analysts' estimates typically exclude special items.

Potlatch said it agreed to acquire 201,000 acres of timberlands in Alabama and Mississippi from affiliates of Resource Management Service LLC for $384 million. The transaction is expected to close late in the fourth quarter of 2014, subject to the customary closing conditions.