Net sales $ 543,920 $ 381,887 Cost of sales 301,957 274,952 Depreciation, amortization and cost of timber harvested 43,583 43,954 Gross profit 198,380 62,981 Selling and administrative expense 18,698 21,288 Operating income 179,682 41,693 Other expense (income): Interest income (3,353) (2,196) Interest expense, net of capitalized interest 17,895 24,626 Gain on sale of timberlands (2) (278) (15,121) Writedown of investment in
BCPI and related expenses Other, net 1,461 5,145 Income before income taxes and minority interests 163,957 29,239 Provision for income taxes 60,740 10,729 Minority interests 7,959 (2,461) Income before extraordinary charge 95,258 20,971 Extraordinary charge, net of taxes of $7,084 Net income $ 95,258 $ 20,971
Net sales $ 520,907 $ 348,151 Cost of sales 299,428 268,921 Depreciation, amortization and cost of timber harvested 43,201 41,166 Gross profit 178,278 38,064 Selling and administrative expense 23,642 17,241 Operating income (loss) 154,636 20,823 Other expense (income): Interest income (2,328) (2,112) Interest expense, net of capitalized interest 19,004 24,619 Gain on sale of timberlands (1,489) (27,389) Estimated loss on planned sale of
BCPI 30,000 Other, net (11,403)(2) (1,779) Income (loss) before income taxes and minority interests 120,852 27,484 Provision for income taxes 55,838 8,003 Minority interests 6,911 8,955 Income (loss) before extraordinary charge 58,103 10,526 Extraordinary charge, net of taxes of $3,276 and $7,084 respectively (5,233) Net income (loss) $ 52,870 $ 10,526
