Rayonier Inc. Q1 Earnings Fall 23%

(RTTNews) - Rayonier Inc. (RYN) announced a profit for first quarter that decreased from last year.

The company said its bottom line declined to $13.7 million, or $0.11 per share. This was down from $17.8 million, or $0.14 per share, in last year's first quarter.

Analysts had expected the company to earn $0.08 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.9% to $134.8 million. This was down from $140.3 million last year.

Rayonier Inc. earnings at a glance:

-Earnings (Q1): $13.7 Mln. vs. $17.8 Mln. last year. -Earnings Decline (Y-o-Y): -23.0% -EPS (Q1): $0.11 vs. $0.14 last year. -EPS Decline (Y-o-Y): -21.4% -Analysts Estimate: $0.08 -Revenue (Q1): $134.8 Mln vs. $140.3 Mln last year. -Revenue Change (Y-o-Y): -3.9%