Rayonier Inc. Bottom Line Drops In Q2

(RTTNews) - Rayonier Inc. (RYN) announced earnings for second quarter that fell from the same period last year.

The company's bottom line came in at $18.8 million, or $0.14 per share. This compares with $36.3 million, or $0.28 per share, in last year's second quarter.

Analysts had expected the company to earn $0.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 24.8% to $184.8 million from $245.9 million last year.

Rayonier Inc. earnings at a glance:

-Earnings (Q2): $18.8 Mln. vs. $36.3 Mln. last year. -EPS (Q2): $0.14 vs. $0.28 last year. -Analysts Estimate: $0.12 -Revenue (Q2): $184.8 Mln vs. $245.9 Mln last year.

-Guidance: Full year EPS guidance: $0.42 - $0.49