Rayonier (RYN) has reported 368.93 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $48.30 million, or $0.39 a share in the quarter, compared with $10.30 million, or $0.08 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $5.70 million, or $0.05 a share compared with $11.30 million or $0.09 a share, a year ago.

Revenue during the quarter surged 60.83 percent to $220.50 million from $137.10 million in the previous year period.

Cost of revenue surged 41.89 percent or $47.80 million during the quarter to $161.90 million. Gross margin for the quarter expanded 980 basis points over the previous year period to 26.58 percent.

Total expenses were $159 million for the quarter, up 30.97 percent or $37.60 million from year-ago period. Operating margin for the quarter expanded 1644 basis points over the previous year period to 27.89 percent.

Operating income for the quarter was $61.50 million, compared with $15.70 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $52 million compared with $47.60 million in the prior year period. At the same time, adjusted EBITDA margin contracted 1114 basis points in the quarter to 23.58 percent from 34.72 percent in the last year period.

For fiscal year 2017, Rayonier expects net income to be in the range of $66 million to $71.50 million, It forecasts adjusted net income to be in the range of $39 million to $44.50 million.

"We are pleased with our fourth quarter results as favorable Pacific Northwest and New Zealand Timber results more than offset the impact of lower harvest volumes in Southern Timber and reduced land sales in Real Estate," said David Nunes, president and chief executive officer. "Southern Timber volumes decreased 9% relative to the prior year quarter as we exercised our discretion to defer harvest volume in response to weaker market conditions. Average stumpage prices in Southern Timber decreased 6% versus the prior year quarter, primarily due to geographic mix and continued supply impacts from extended dry weather conditions. In Pacific Northwest Timber, harvest volumes increased 13% and average prices increased 9% relative to the prior year quarter, largely driven by strong results from our newly-acquired Menasha properties. New Zealand Timber results were well above the prior year quarter, as continued strong export and domestic demand drove significantly higher pricing. Real Estate results, excluding the gain on the previously-announced Large Disposition,1 were below the prior year quarter due to the sale of fewer Non-strategic / Timberland acres, partially offset by a timberland sale in Washington for roughly $6,500 per acre."

The company has spent $283.20 million cash to meet investing activities during the year as against cash outgo of $166.30 million in the last year.

Cash flow from financing activities was $114.40 million for the year as against cash outgo of $116.50 million in the last year period.

Cash and cash equivalents stood at $85.90 million as on Dec. 31, 2016, up 65.83 percent or $34.10 million from $51.80 million on Dec. 31, 2015.

Total assets grew 15.80 percent or $366.54 million to $2,685.80 million on Dec. 31, 2016. On the other hand, total liabilities were at $1,188.90 million as on Dec. 31, 2016, up 24.16 percent or $231.38 million from year-ago.

Return on assets moved up 165 basis points to 2.41 percent in the quarter. At the same time, return on equity moved up 247 basis points to 3.23 percent in the quarter.