Potlatch Corp (PCH) has reported a 27.39 percent rise in profit for the year ended Dec. 31, 2014. The company has earned $89.91 million, or $2.20 a share in the year, compared with $70.58 million, or $1.73 a share for the last year. Revenue during the year grew 6.43 percent to $606.95 million from $570.29 million in the previous year.
Cost of revenue rose 5.14 percent or $21.02 million during the year to $429.79 million. Gross margin for the year was stable at $29.19 million, when compared with the previous year.
Total expenses were $474.44 million for the year, up 2.54 percent or $11.75 million. Operating margin for the year expanded 296 basis points over the previous year to 21.83 percent.
Operating income for the year was $132.51 million, compared with $107.60 million in the previous year.
Operating cash flow improves significantly
Potlatch Corp has generated cash of $131.37 million from operating activities during the year, up 45.56 percent or $41.12 million, when compared with the last year.
The company has spent $382.68 million cash to meet investing activities during the year as against cash outgo of $12 million in the last year.
Cash flow from financing activities was $250.37 million for the year as against cash outgo of $89.65 million in the last year period. It has made net debt repayment of $310 million. It has raised net of $0.40 million by selling common stocks.
Cash and cash equivalents stood at $4.64 million as on Dec. 31, 2014, down 16.86 percent or $0.94 million from $5.59 million on Dec. 31, 2013.
Real estate inventory fell 13.19 percent or $4.78 million to $31.49 million on Dec. 31, 2014. Net receivables were at $9.93 million as on Dec. 31, 2014, down 40.09 percent or $6.64 million.
Investments stood at $26.37 million as on Dec. 31, 2014, down 49.54 percent or $25.88 million.
Total assets stood at $1,035.42million as on Dec. 31, 2014. On the other hand, total liabilities were at $810.36 million as on Dec. 31, 2014.
Return on assets was at 8.68 percent in the year. At the same time, return on equity moved up 537 basis points to 39.95 percent in the year.
Total debt was at $629.34 million as on Dec. 31, 2014, up 96.61 percent or $309.25 million. Shareholders equity stood at $225.07 million as on Dec. 31, 2014, up 10.25 percent or $20.92 million. As a result, debt to equity ratio went up 123 basis points to 2.80 percent in the year.
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