JACKSONVILLE, Fla. (AP) _ Rayonier Advanced Materials Inc. (RYAM) on Tuesday reported second-quarter net income of $122 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Jacksonville, Florida-based company said it had net income of $1.89. Earnings, adjusted to account for discontinued operations, came to 14 cents per share.
The maker of cellulose products posted revenue of $341 million in the period.
Rayonier Advanced Materials shares have risen 9.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.14, more than doubling in the last 12 months.
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