Rayonier Inc. Q4 Profit Increases, but misses estimates

(RTTNews) - Rayonier Inc. (RYN) released a profit for its fourth quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line totaled $33.1 million, or $0.22 per share. This compares with $8.7 million, or $0.06 per share, in last year's fourth quarter.

Excluding items, Rayonier Inc. reported adjusted earnings of $16.5 million or $0.11 per share for the period.

Analysts on average 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 6.3% to $245.4 million from $262.0 million last year.

Rayonier Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $33.1 Mln. vs. $8.7 Mln. last year. -EPS (Q4): $0.22 vs. $0.06 last year. -Analyst Estimate: $0.12 -Revenue (Q4): $245.4 Mln vs. $262.0 Mln last year.