WASHINGTON (dpa-AFX) - Plum Creek Timber Company Inc. (PCL), Monday reported a decline in profit for the first quarter, due mainly to lower income from the real estate segment, although revenues and cash generated by the segment increased.
The Seattle, Washington-based company reported first-quarter net profit of $29 million or $0.18 per share, compared to $38 million or $0.23 per share last year. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.24 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew to $337 million from $275 million in the prior-year quarter. Eight analysts had a consensus revenue estimate of $330.19 million for the quarter.
Looking ahead, the company expects second-quarter net income in the range of $0.15 to $0.20 per share. Analysts currently expect the company to earn $0.27 per share for the quarter.
The company expects full-year 2012 net income in a range of $1.00 to $1.25 per share. Analysts currently expect earnings of $1.19 per share for the year.
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