Pope Resources Reports First Quarter Income of $3.7 Million

Pope Resources POPE reported net income attributable to unitholders of $3.7 million, or $0.82 per diluted ownership unit, on revenue of $17.7 million for the quarter ended March 31, 2011. This compares to net income attributable to unitholders of $451,000, or $0.10 per diluted ownership unit, on revenue of $6.0 million for the comparable period in 2010. Cash provided by operations for the quarter ended March 31, 2011 was $7.6 million, compared to $846,000 for the first quarter of 2010.