Potlatch Corporation reported net income of $14.4 million on revenues of $155.7 million for the quarter ended December 31, 2016.

This compares to net income of $3.5 million on revenues of $138 million in the 4Q 2015.

Net income for the full year of 2016 was $10.9 million on revenues of $599.1 million. Excluding the after-tax loss of $36.7 million on the previously announced sale of 172,000 acres in central Idaho, 2016 net income was $47.6 million. Net income was $31.7 million on revenues of $575.3 million in 2015.

“Strong performance by each of our three businesses and improved lumber prices resulted in solid earnings this year,” said Mike Covey, chairman and CEO. “Our mills continue to run well and we achieved new quarterly production records in the third and fourth quarters. Resource successfully managed through challenging weather conditions to achieve our planned harvest volume for the year. Real Estate continues to identify opportunities to drive value and closed a series of attractive conservation sales during 2016. Turning to the balance sheet, we also reduced net debt by $125 million this year, increasing our financial flexibility, and returned $67 million to shareholders in the form of dividends and share repurchases,” stated Mr. Covey.

Potlatch is a Real Estate Investment Trust (REIT) with approximately 1.4 million acres of timberland in Alabama, Arkansas, Idaho, Minnesota and Mississippi.