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Sales and earnings increased for Plum Creek Timber Co. in the second quarter ended June 30.
Revenues increased 3.1% to $303 million. Earnings increased to $46 million, up from $36 million in the second quarter of 2012.
“Each of our business segments performed well during the second quarter,” said Rick Holley, CEO. “We are experiencing fundamental demand improvement and better pricing; although, we remain in the very early stages of the housing recovery. As the industry adjusts to this change in the demand environment, regional markets we serve are recovering at different rates.”
He added that the company’s geographic diversity allows it to act and capitalize on strong local markets.
Improving production trends for lumber and structural panels are expected to result in greater demand and higher pricing for sawlogs as the housing recovery continues to advance. Sawlog prices during the second half of 2013 are expected to be higher than the prices for the second half of 2012 in all regions.
The company continues to expect