Crown Pacific Posts Improved Earnings

Portland-based Crown Pacific Partners reported third-quarter profits of $4.4 million Tuesday.

The company bounced back from a loss of $9.4 million during the same quarter in 1994 on the strength of timberland sales and increased efficiency.

For the first nine months of the year, Crown Pacific has earned $12.7 million, compared with a net income of $6.8 million for the same three quarters in 1994.

The sale and exchange of timberland in central Washington during the third quarter netted the company $2.2 million. Third quarter 1994 results included a charge of $11.8 million from refinancing costs, the company said.

The company improved its operating margin by 7 percent from third quarter 1994, said Peter W. Stott, president and chief executive.

Crown Pacific owns timberland and sawmills in the Inland Northwest.

, DataTimes