Crown Pacific Profits Shoot Up 35 Percent

Crown Pacific Partners, L.P., Wednesday reported a 35 percent increase in yearly earnings of $27.7 million, or $1.01 per unit, on record revenues of $505.6 million.

Fourth-quarter earnings totaled $6.9 million, or 25 cents per unit, on revenues of $141.5 million. That compares with earnings of $6 million and revenues of $112.1 million for fourth quarter 1996.

Crown Pacific attributed the increase in revenues to sales growth in its wholesale operation.

“Our total revenues topped $500 million for the first time and operating income increased 12 percent for the year,” said Peter W. Stott, president and chief executive officer for Crown Pacific. “Most importantly, cash flow increased to $114.4 million for the year, from $99.2 million in 1996.”

Crown Pacific is an integrated forest products company with timber holdings and conversion facilities in Washington, Idaho, Montana and Oregon. , DataTimes