ERJ staff report (DS)
Jacksonville, Florida - Rayonier has reported third quarter net income of $81 million, compared to $105 million in the prior year period. The company has a performance fibres division which reported third quarter sales of $288 million, $33 million above the prior year period. Divisional operating income of $101 million improved by $27 million.
For the performance fibers division, year-to-date sales of $794 million were $55 million above the comparable 2011 period, while operating income of $266 million increased $44 million. The 2012 results reflected higher cellulose specialties prices partially offset by a decline in absorbent materials prices and higher production costs. Third quarter 2012 also benefited from higher cellulose specialties volumes due to timing of shipments.
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Press release from Rayonier
Transcript of earnings call from Rayonier via Seeking Alpha