Potlatch Corp. posted lower first quarter earnings of $1.2 million today, compared to $24.8 million during the first quarter of 2009.
Last year's earnings included $43 million in revenues from the sale of timber land in Arkansas.
Highlights from this quarter included a strengthening in the Spokane-based company's timber and wood products divisions. Sales of sawlogs increased slighly and prices were also higher. Lumber shipments and lumber prices also increased. During the first quarter, Potlatch sold 2,435 parcels of rural recreational land for approximately $3.1 million.
Potlatch is a real estate investment trust with 1.6 million acres of timberland in Idaho, Arkansas, Minnesota and Wisconsin.