Pope Resources (POPE) Reports Higher Net Income in First Quarter of 2010
Pope Resources reported net income of $0.45 million, or $0.10 per diluted unit, in the first quarter of 2010, compared to a net loss of $0.12 million, or $0.03 per diluted unit, in the same quarter of 2009. The management of Pope Resources indicated that the domestic housing market was still weak, but that domestic and export markets for logs were seeing some strength in orders. David L. Nunes, the CEO of Pope Resources, said, “Despite continued weak domestic housing starts, we were encouraged by improving market dynamics in both domestic and export log markets.” Pope said that the company…