Pope Resources announced consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported revenue of $47,784,000 against $43,468,000 a year ago. Operating income was $14,570,000 against $4,316,000 a year ago. Income before income taxes was $13,405,000 against $3,268,000 a year ago. Net income attributable to unitholders was $12,705,000 against $4,571,000 a year ago. Basic and diluted earnings per unit were $2.92 against $1.05 a year ago. Adjusted net income attributable to unitholders was $12,705,000 against $12,271,000 a year ago. Adjusted basic and diluted earnings per unit were $2.92 against $2.82 a year ago. Cash provided by operations was $24,572,000 against $14,103,000 a year ago. Capital and development expenditures were $1,765,000 against $3,929,000 a year ago.

For the year, the company reported revenue of $99,823,000 against $80,428,000 a year ago. Operating income was $30,052,000 against $5,621,000 a year ago. Income before income taxes was $25,581,000 against $2,215,000 a year ago. Net income attributable to unitholders was $17,891,000 against $5,942,000 a year ago. Basic and diluted earnings per unit were $4.10 against $1.35 a year ago. Adjusted net income attributable to unitholders was $17,891,000 against $13,642,000 a year ago. Adjusted basic and diluted earnings per unit were $4.10 against $3.14 a year ago. Cash provided by operations was $31,980,000 against $5,146,000 a year ago. Capital and development expenditures were $10,088,000 against $15,962,000 a year ago.

The company expects total 2018 harvest volume to be 59 MMBF for the partnership, and 76 MMBF for the funds, including timber deed sales. The 59 MMBF for the partnership includes 7 MMBF of volume from timber located on real estate properties that is not factored into long-term, sustainable harvest plan.