Rayonier Reports Fourth Quarter 2010 Results

Rayonier RYN today reported fourth quarter net income of $59 million, or 72 cents per share, compared to $98 million, or $1.21 per share, in the prior year period. Full year net income was $218 million, or $2.68 per share, compared to $313 million, or $3.91 per share, in 2009. Excluding the special items shown below, fourth quarter pro forma net income of $35 million, or 43 cents per share, was comparable to the prior year's pro forma net income of $33 million, or 42 cents per share. Full year pro forma results of $182 million, or $2.24 per share, increased from $120 million, or $1.50 per share, in 2009.