Potlatch Reports Improved Earnings

Fri., July 10, 1998

From Staff

Potlatch Corp. announced slightly higher second-quarter earnings Thursday.

Net second-quarter earnings were $10 million, or $.35 per share. That compares to $9.9 million, or $.34 per share for the same period last year.

The Wood Products Group reported a second-quarter operating income of $14 million - a 62 percent gain.

Higher prices and increased sales of oriented strand board offset lower lumber prices, said John Richards, company CEO and chairman.

Spokane-based Potlatch is one of the nation’s largest producers of oriented strand board, which is used for sheathing. Oriented strand board is made at the company’s Minnesota mills.

Production improvements at Potlatch’s Lewiston pulp and paperboard mill also helped reduce costs and boost earnings. However, markets for the company’s pulp products remain competitive, Richards said.

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Potlatch Reports Improved Earnings

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