Rayonier Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Rayonier Inc. (RYN) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $1.4 million, or $0.01 per share. This compares with $8.3 million, or $0.06 per share, in last year's first quarter.

Excluding items, Rayonier Inc. reported adjusted earnings of $7.0 million or $0.05 per share for the period.

Analysts on average had expected the company to earn $0.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.1% to $168.1 million from $179.1 million last year.

Rayonier Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.4 Mln. vs. $8.3 Mln. last year. -EPS (Q1): $0.01 vs. $0.06 last year. -Revenue (Q1): $168.1 Mln vs. $179.1 Mln last year.