Rayonier Inc.Second quarter results for 1999 were recently released by specialty pulp and timber supplier Rayonier Rayonier NYSE: RYN is the seventh largest private owner of timberland in the United States. It also owns land in New Zealand. Headquartered in Jacksonville, Florida, Rayonier was founded in 1926 as the Rainier Pulp and Paper Company. Inc., Stamford Stamford, town, England Stamford, town (1991 pop. 18,127), in the Parts of Kesteven, Lincolnshire, E central England, on the Welland River. It is a market town. Products include diesel engines, electrical equipment, bricks, and tiles. , CT. Sales amounted to $258 million, an increase compared to both 1998's second quarter figure of $254 million and the first quarter of 1999's amount of $226 million. Rayonier's earnings also increased to $17.1 million from last year's result of $18.4 million and the first three months of 1999's figure of $15.1 million. Sales for the first half of 1999 totalled $484.4 million, an increase from last year's $479.4 million. Net income for the first half of 1999 decreased from 1998's $36.6 million to $32.2 million. Specialty pulp sales of $106 million were $4 million above the first quarter, primarily due to higher chemical cellulose cellulose, chief constituent of the cell walls of plants. Chemically, it is a carbohydrate that is a high molecular weight polysaccharide. Raw cotton is composed of 91% pure cellulose; other important natural sources are flax, hemp, jute, straw, and wood. shipments and product mix and improved fluff pulp prices, partially offset by lower fluff volume. Rayonier is reportedly optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about market conditions for the coming months as Asia continues to gradually grad·u·al adj. Advancing or progressing by regular or continuous degrees: gradual erosion; a gradual slope. n. Roman Catholic Church 1. improve and the outlook for U.S. housing remains strong. |
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