UPDATE 1-Plum Creek earnings rise; revenue misses estimates

* Q1 EPS 95 cents vs estimate of 94 cents

* Revenue up 29 pct, short of analysts' estimates

* Shares fall 4 pct in regular trading

SAN FRANCISCO, April 27 (Reuters) - Plum Creek Timber
Company Inc (PCL.N) reported a rise in quarterly earnings,
lifted by a $162 million profit on the sale of conservation
lands in Montana, but revenue fell short of expectations.

The company's net income for the quarter climbed to $157
million, or 95 cents a share, from $38 million, or 22 cents per
share, last year. Revenue rose 29 percent to $470 million.

Analysts, on average, were expecting earnings of 94 cents a
share, before special items, on revenue of $506.4 million,
according to Reuters Estimates.

Operating results from Plum Creek's other divisions showed
either a decline in earnings or a loss.

The Seattle-based company expects second-quarter earnings to
be about break-even, while analysts have been forecasting
earnings of 14 cents per share.

Shares of Plum Creek closed at $34.90 on Monday on the New
York Stock Exchange, down 4 percent. The stock has traded in a
range of $15.59 to $45.82 in the last 52 weeks.
(Reporting by Braden Reddall in San Francisco and Hezron Selvi
in New York, editing by Matthew Lewis)