Rayonier Inc. Q1 Profit Advances, Beats estimates

(RTTNews) - Rayonier Inc. (RYN) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $29.3 million, or $0.20 per share. This compares with $10.8 million, or $0.08 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.0% to $222.0 million from $191.4 million last year.

Rayonier Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $29.3 Mln. vs. $10.8 Mln. last year. -EPS (Q1): $0.20 vs. $0.08 last year. -Analyst Estimate: $0.16 -Revenue (Q1): $222.0 Mln vs. $191.4 Mln last year.