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| Rayonier reports 3Q 2008 results Timber and real estate company Rayonier reported third quarter income from continuing operations of $40 million, or 50 cents per share, compared to $70 million, or 89 cents per share, in third quarter 2007. Year-to-date income from continuing operations was $118 million, or $1.48 per share, compared to $138 million, or $1.75 per share, in the first nine months of 2007. Year-to-date 2007 included a special item charge of $10 million, or 13 cents per share, for timber damaged by forest fires. Third quarter net income was $30 million, or 37 cents per share compared to $71 million, or 90 cents per share, in 2007. Year-to-date net income was $108 million, or $1.36 per share compared to $140 million, or $1.77 per share, in 2007. For the three and nine months ended September 30, 2008, net income included a discontinued operations loss of $10 million, or 13 cents per share, primarily due to one-time tax charges related to the planned sale of our New Zealand holdings. For the comparable 2007 periods, income from discontinued operations was $1 million and $2 million, respectively. write your comments about the article :: © 2008 Construction News :: home page |