Potlatch (PCH) Tops Q1 EPS by 1c

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Potlatch Corporation Reports First Quarter 2016 Results and Announces 172,000 Acre Central Idaho Timberland Sale

April 26, 2016 6:45 AM EDT

SPOKANE, Wash., April 26, 2016 (GLOBE NEWSWIRE) -- Potlatch Corporation (Nasdaq: PCH) today announced its first quarter 2016 results and the sale of approximately 172,000 acres of timberlands in central Idaho to Southern Pine Plantations, a private timberland investment company based in Macon, Georgia, for $114 million.

"We purchased the central Idaho timberlands in 2007 intending to take advantage of what was a strong rural recreational real estate market around McCall, Idaho.  Unfortunately, that market declined significantly due to the recession and the bankruptcy of the Tamarack Resort," said Mike Covey, chairman and chief executive... More