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Rayonier beats 4Q profit forecasts

YULEE, Fla. (AP) _ Rayonier Inc. (RYN) on Wednesday reported fourth-quarter earnings of $64.2 million.

On a per-share basis, the Yulee, Florida-based company said it had net income of 50 cents. Earnings, adjusted for non-recurring gains, were 20 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The forest products company posted revenue of $239.7 million in the period.

For the year, the company reported profit of $148.8 million, or $1.16 per share. Revenue was reported as $819.6 million.

Rayonier shares have declined nearly 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.39, a climb of almost 10 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RYN at https://www.zacks.com/ap/RYN