Potlatch Corp. experienced its strongest financial performance in the third quarter of 2007 since its conversion to a real estate investment trust 22 months ago.
Potlatch made $41 million on revenues of $436 million, according to a news release issued Thursday.
The price of the company's stock rose by $1.47 per share Thursday to close at $45.08 per share, following a full day of trading after release of the figures.
The price has ranged from $37.89 to $49.98 in the last year.
All manufacturing segments with operations in Lewiston made money. Potlatch is the largest private employer in north central Idaho and southeastern Washington where it employs about 2,100.
Pulp and paperboard and consumer products contributed $17.6 million and $5.1 million respectively in operating income to Potlatch's third quarter earnings while wood products had $2.4 million in operating income.
Paperboard pricing is strong in the high-end folding carton market Potlatch serves because of high demand and the weak U.S. dollar prompting European and Asian customers to buy in larger volumes, according to the news release and Matt Van Vleet, Potlatch's Lewiston spokesman.
