RYN Rayonier Inc

Rayonier (NYSE:RYN) said today that it has closed three significant real estate transactions worth approximately $54 million comprising 6,600 acres in North Florida. Two of the transactions involved development properties, including one in which Rayonier will participate with the developer over the next 10 years. The third transaction was a sale of conservation and recreation property to a county government. These transactions represent an after-tax gain of $31 million, or 39 cents per share, with 27 cents to be recorded in the third quarter and 12 cents in the fourth. The company noted that these transactions are consistent with the earnings guidance given in its second quarter earnings announcement. The largest transaction � $28.3 million for 1,950 acres near Jacksonville � was with ICI Homes, a prominent Southeast U.S. home builder, and reflects Rayonier�s strategy to increase per acre values by partnering with prestigious developers and participating in downstream revenues. In addition to the $22.6 million received at closing, Rayonier will receive and record $5.7 million within a 10-year period from revenue earned by ICI from the sale of homes on the property. About Rayonier Rayonier is a leading international forest products company with three core businesses: Timber, Real Estate and Performance Fibers. It owns, leases or manages 2.5 million acres of timber and land in the U.S., New Zealand and Australia. The company's holdings include approximately 200,000 acres with residential and commercial development potential along the fast-growing Interstate 95 corridor between Savannah, Georgia, and Daytona Beach, Florida. Its Performance Fibers business is the world's leading producer of high-value specialty cellulose. Approximately 40 percent of the company's sales are outside the U.S. to customers in more than 50 countries. Except for historical information, the statements made in this press release are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements, which include statements regarding anticipated earnings, revenues, volumes, pricing, costs and other statements relating to Rayonier's financial and operational performance, in some cases are identified by the use of words such as "may," "will," "should," "expect," "estimate," "believe," "anticipate" and other similar language. The following important factors, among others, could cause actual results to differ materially from those expressed in the forward-looking statements contained in this release: fluctuations in interest rates; changes in demand for real estate; unexpected delays in the entry into or closing of real estate sale transactions; changes in law or policy, including changes in elected officials, that might result in the conditioning, limitation or restriction of the development of real estate; and implementation or revision of governmental policies and regulations affecting the environment, endangered species, or taxes, including changes in tax laws that could reduce the benefits associated with REIT status. For additional factors that could impact future results, please see the company's most recent Form 10-K on file with the Securities and Exchange Commission. Rayonier assumes no obligation to update these statements except as may be required by law. Rayonier (NYSE:RYN) said today that it has closed three significant real estate transactions worth approximately $54 million comprising 6,600 acres in North Florida. Two of the transactions involved development properties, including one in which Rayonier will participate with the developer over the next 10 years. The third transaction was a sale of conservation and recreation property to a county government. These transactions represent an after-tax gain of $31 million, or 39 cents per share, with 27 cents to be recorded in the third quarter and 12 cents in the fourth. The company noted that these transactions are consistent with the earnings guidance given in its second quarter earnings announcement. The largest transaction - $28.3 million for 1,950 acres near Jacksonville - was with ICI Homes, a prominent Southeast U.S. home builder, and reflects Rayonier's strategy to increase per acre values by partnering with prestigious developers and participating in downstream revenues. In addition to the $22.6 million received at closing, Rayonier will receive and record $5.7 million within a 10-year period from revenue earned by ICI from the sale of homes on the property. About Rayonier Rayonier is a leading international forest products company with three core businesses: Timber, Real Estate and Performance Fibers. It owns, leases or manages 2.5 million acres of timber and land in the U.S., New Zealand and Australia. The company's holdings include approximately 200,000 acres with residential and commercial development potential along the fast-growing Interstate 95 corridor between Savannah, Georgia, and Daytona Beach, Florida. Its Performance Fibers business is the world's leading producer of high-value specialty cellulose. Approximately 40 percent of the company's sales are outside the U.S. to customers in more than 50 countries. Except for historical information, the statements made in this press release are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements, which include statements regarding anticipated earnings, revenues, volumes, pricing, costs and other statements relating to Rayonier's financial and operational performance, in some cases are identified by the use of words such as "may," "will," "should," "expect," "estimate," "believe," "anticipate" and other similar language. The following important factors, among others, could cause actual results to differ materially from those expressed in the forward-looking statements contained in this release: fluctuations in interest rates; changes in demand for real estate; unexpected delays in the entry into or closing of real estate sale transactions; changes in law or policy, including changes in elected officials, that might result in the conditioning, limitation or restriction of the development of real estate; and implementation or revision of governmental policies and regulations affecting the environment, endangered species, or taxes, including changes in tax laws that could reduce the benefits associated with REIT status. For additional factors that could impact future results, please see the company's most recent Form 10-K on file with the Securities and Exchange Commission. Rayonier assumes no obligation to update these statements except as may be required by law.