Potlatch Corp, (PCH: chart), said that if not for this gain, the company earned 35 cents a share in Q1. Potlatch attributed the earnings improvement to better results in its consumer products and resource businesses. Revenue advanced to $402.5 million from $336.9 million in the same period a year ago. The company beat analysts’ estimate for a profit of 24 cents a share.

AT&T Inc, (T: chart), communication services and products company, reported Q1 earnings of 37 cents a share, up from a profit of 27 cents a share a year-ago. The results reflect the completion of the merger of SBC Communications Inc. and AT&T Corp. on Nov. 18. Q1 includes certain items related to AT&T''s portion of Cingular''s merger integration and non-cash amortization costs, and costs from the merger of AT&T and SBC. If not for items, the company earned 52 cents a share in Q1. Revenue climbed 54.5% compared with the year-ago result. On that basis, the company beat analysts’ estimate for a profit of 49 cents a share.

Carlisle Cos, (CSL: chart), manufacturing company, reported Q1 earnings of $1.33 a share, up from a profit of 90 cents a share a year-earlier. On a continuing operations, the company reported earnings of $1.28 a share in Q1. Q1 includes stock option expensing of 4 cents a share. Sales advanced 16% in Q1 to $621.1 million from $537.7 million in the same period a year ago. The company beat analysts’ estimate for a profit of $1.01 a share. Carlisle raised its outlook for earnings from continuing operations for fiscal 2006 to earnings of $5 to $5.20 a share from a previous projection of $4.85 to $5.05 a share.

Rayonier, (RYN: chart), timberland and other real estate owner, reported Q1 earnings of 30 cents a share, down vs. a profit of 45 cents a share a year-earlier. The results in the year-earlier quarter included a gain of 12 cents a share, related to a favorable settlement with the Internal Revenue Service. Revenue advanced slightly in Q1 to $277.2 million from $275 million in the same period a year ago. The company topped analysts’ estimate for a profit of 31 cents a share. in the March period.

Smith International, (SII: chart), oil services company, reported Q1 earnings of 53 cents a share, up from 32 cents a share in the year-ago period on revenue growth, beating analysts expectations for earnings of 48 cents a share.

Applied Industrial Technologies, (AIT: chart), industrial-parts distributor, reported that Q3 net income advanced 22% to 65 cents a share, from 53 cents in the year-ago period on 11% higher sales, topping analysts estimate of 60 cents. Revenue came to $497.2 million versus $446.5 million. The company lifted its estimate of earnings for 2006 and now expects net to range $2.29 to $2.34 a share, up from the previous estimate of $2.10 to $2.20.

Banner Corp, (BANR: chart), specialty finance company, reported Q1 net income surged 44% to 56 cents a share, up from 39 cents a share a year ago, due to improved net interest margin on 18% revenue growth. Loans rose 19% to $2.54 billion. Net interest margin advanced 53 basis points to 4.24%.

State Auto Financial Corp, (STFC: chart), specialty insurance company, reported that Q1 net income fell to 97 cents a share, down from $1 a share a year ago on revenue decline.

Kinetic Concepts Inc, (KCI: chart), medical-technology company, reported that Q1 net income advanced 31% to 66 cents a share, from 51 cents in the year-ago period on 14% higher revenue, topping analyst estimate of 62 cents a share. Kinetic Concepts affirmed its earnings estimates for the year.

Occidental Petroleum, (OXY: chart), oil producer, reported that Q1 net income climbed 45% to $2.86 a share on a 13% rise in production and higher energy prices. Income from continuing operations came to $2.83 a share, topping analysts views for earnings of $2.73 a share. The company announced production advanced to 636,000 barrels of oil equivalent a day during the quarter, which it anticipates to advanced to 650,000 barrels in Q2.

Penn National Gaming Inc, (PENN: chart), casino and race track operator, reported Q1 net income almost tripled to 49 cents a share, from 19 cents a share a year earlier. If not for charges for early extinguishment of debt and stock compensation, the company earned 60 cents a share, topping analyst estimate of 52 cents a share. The company’ revenue grew to $569.2 million from $289.3 million.

JetBlue, (JBLU: chart), discount airline, reported Q1 earnings loss of 18 cents a share, swinging from a profit of 4 cents a share in the year-ago period despite 31.4% revenue growth, topping analyst estimate for a loss of 20 cents a share. The company has developed a comprehensive plan to return to profitability that includes right-sizing capacity, revenue enhancements and cost reductions and is also deferring 12 aircraft deliveries and selling at least two, and up to five, existing aircraft.

Enterprise Products Partners, (EPD: chart), natural gas and pipeline company, reported that Q1 net income advanced to 28 cents per share, from 25 cents per share in the same period a year earlier, topping analysts forecasts for earningsof 23 cents a share. The company added that revenue advanced 27% in Q1.

Ceridian Corp, (CEN: chart), information services company, reported Q1 net earnings advanced to 24 cents a share, up from 15 cents a share on revenue growth, beating analysts expecations for a profit of 23 cents a share. The company affirmed its forecast for the year of a range of $1 to $1.08 a share, including the impact of expensing stock options. 2006 revenue is anticipated to be between $1.57 billion and $1.61 billion.