SEATTLE – Plum Creek Timber Co. Inc. announced second quarter earnings of $31 million on revenues of $376 million, compared to earnings of $60 million on revenues of $395 million for the second quarter of 2007. Earnings for the first six months of 2008 were $69 million, down from $105 million from the first half of 2007.
“Overall timber market conditions remained challenging during the second quarter. Our lower results so far this year reflect the weaker pricing environment for sawlogs, offset somewhat by attractive pulpwood markets,” said Rick Holley, president and CEO. “Rural land values held steady in most regions, and the results for our Real Estate segment for the first six months of 2008 matched those for the same period of 2007.”
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