Potlatch Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported revenues of $137,989,000 compared to $146,237,000 a year ago. Operating income was $9,855,000 compared to $26,603,000 a year ago. Income before income taxes was $1,514,000 compared to $20,169,000 a year ago. Net income was $3,549,000 or $0.09 per basic and diluted share compared to $20,136,000 or $0.49 per basic and diluted share a year ago. Net cash from operations was $18.9 million compared to $23.7 million a year ago.

For the year, the company reported revenues of $575,336,000 compared to $606,950,000 a year ago. Operating income was $58,907,000 compared to $132,506,000 a year ago. Income before income taxes was $26,146,000 compared to $109,597,000 a year ago. Net income was $31,714,000 or $0.77 per diluted share compared to $89,910,000 or $2.20 per diluted share a year ago. Net cash from operating activities was $74,014,000 compared to $131,372,000 a year ago. Capital expenditures were $32.7 million for the year.

The company anticipates better results in 2016 based on a belief that the recovery in the U.S. housing market will continue and that lumber prices will improve. The company expects net interest expense will average a little over $8 million per quarter in 2016. The company estimates an annual tax rate of 10% to 15% in 2016. The company has budgeted capital expenditures of $19 million for 2016. Earnings for each of the remaining three quarters are expected to be higher than the comparable quarters in 2015.