WILDLIGHT, Fla. (AP) — Rayonier Inc. (RYN) on Wednesday reported fourth-quarter earnings of $2 million.
On a per-share basis, the Wildlight, Florida-based company said it had net income of 2 cents.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The forest products company posted revenue of $166.1 million in the period.
For the year, the company reported profit of $102.2 million, or 79 cents per share. Revenue was reported as $816.1 million.
Rayonier shares have risen 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.25, a fall of nearly 4 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
