UPDATE: Plum Creek Q4 Profit Jumps 30%
Plum Creek Timber Co (NYSE: PCL) reported a 30% rise in its fourth-quarter earnings.
Plum Creek's quarterly profit surged to $79 million, or $0.49 per share, from $61 million, or $0.38 per share, in the year-ago period. Plum Creek in October had expected earnings of $0.25 to $0.30 per share.
Its revenue climbed 12% to $354 million. However, analysts were expecting earnings of $0.29 per share on revenue of $301 million.
Its gross margin rose to 27.4% from 26.3%.
For the current quarter, the company expects earnings of $0.28 to $0.33 per share, versus analysts' estimates of $0.29 per share.
Plum Creek shares gained 3.36% to $48.90 in after-hours trading.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.