(RTTNews) - Rayonier Inc. (RYN) reported earnings for second quarter that fell from last year.
The company's profit totaled $1.7 million, or $0.01 per share. This compares with $18.8 million, or $0.14 per share, in last year's second quarter.
Excluding items, Rayonier Inc. reported adjusted earnings of $15.2 million or $0.11 per share for the period.
Analysts 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 rose 5.8% to $195.6 million from $184.8 million last year.
Rayonier Inc. earnings at a glance:
-Earnings (Q2): $15.2 Mln. vs. $18.8 Mln. last year. -EPS (Q2): $0.11 vs. $0.14 last year. -Analysts Estimate: $0.04 -Revenue (Q2): $195.6 Mln vs. $184.8 Mln last year.
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