WILDLIGHT, Fla. (AP) _ Rayonier Inc. (RYN) on Wednesday reported fourth-quarter net income of $16 million.
On a per-share basis, the Wildlight, Florida-based company said it had profit of 12 cents.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The forest products company posted revenue of $178.8 million in the period.
For the year, the company reported profit of $59.1 million, or 46 cents per share. Revenue was reported as $711.6 million.
Rayonier shares have decreased nearly 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.56, dropping slightly in the last 12 months.