Potlatch Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported revenues of $155,681,000 against $137,989,000 a year ago. Operating income was $25,716,000 against $9,855,000 a year ago. Income before income taxes was $18,792,000 against $1,514,000 a year ago. Net income was $14,373,000 against $3,549,000 a year ago. Net income per diluted share was $0.35 against $0.09 a year ago. Net cash from operations was $27.7 against $18.9 a year ago. EBITDDA was $35.1 million in the fourth quarter compared to $48.8 million last quarter. The sequential decline in earnings and EBITDDA is normal in the fourth quarter and is primarily due to seasonal factors. Capital expenditures were $4.6 million in the fourth quarter. Total capital expenditures, excluding acquisitions, were $19.3 million for the year.

For the year, the company reported revenues of $599,099,000 against $575,336,000 a year ago. Operating income was $35,554,000 against $58,907,000 a year ago. Income before income taxes was $6,613,000 against $26,146,000 a year ago. Net income was $10,938,000 against $31,714,000 a year ago. Net income per diluted share was $0.27 against $0.77 a year ago. Net cash from operating activities was $102,117,000 against $74,014,000 a year ago. Purchase of property, plant and equipment was $5,866,000 against $18,987,000 a year ago. Excluding the after-tax loss of $36.7 million or $0.89 per diluted share on sale of 172,000 acres in central Idaho, 2016 net income was $47.6 million, or $1.16 per diluted share. Net debt was $125 million.

The company expects the consolidated tax rate to be about 5% in the first quarter. The company expects earnings to be lower in the first quarter compared to the fourth quarter.

The company expected capital expenditures of $27 million for 2017. Approximately $15 million is for reforestation costs and logging road construction in resource segment.