Rayonier Inc. Q3 Income Falls 39%

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

The company said its earnings fell to $24.7 million, or $0.19 per share. This was lower than $40.6 million, or $0.33 per share, in last year's third quarter.

Analysts had expected the company to earn $0.05 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.8% to $177.9 million. This was up from $171.4 million last year.

Rayonier Inc. earnings at a glance:

-Earnings (Q3): $24.7 Mln. vs. $40.6 Mln. last year. -Earnings Decline (Y-o-Y): -39.2% -EPS (Q3): $0.19 vs. $0.33 last year. -EPS Decline (Y-o-Y): -42.4% -Analysts Estimate: $0.05 -Revenue (Q3): $177.9 Mln vs. $171.4 Mln last year. -Revenue Change (Y-o-Y): 3.8%