UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                    FORM 8-K


                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


                        Date of Report: February 5, 2007
                        --------------------------------
                        (Date of earliest event reported)


                              POTLATCH CORPORATION
          -------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


          Delaware                  001-32729                  82-0156045
          --------                  ---------                  ----------
(State or Other Jurisdiction       (Commission              (I.R.S. Employer
     of Incorporation)             File Number)          Identification Number)


    601 W. Riverside Avenue, Suite 1100, Spokane WA             99201
    -----------------------------------------------             -----
       (Address of principal executive offices)               (Zip Code)

                                  509-835-1500
                                  ------------
                         (Registrant's telephone number,
                              Including area code)


     Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

     |_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

     |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)

     |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

     |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))



Item 2.02.    Results of Operations and Financial Condition.

     On February 5, 2007, Potlatch Corporation announced its results of
operations and financial condition for the quarter and the year ended December
31, 2006. The press release containing this announcement is furnished as Exhibit
99.1 hereto.

     The information in this Form 8-K and the Exhibit attached hereto shall not
be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of
1934, as amended, nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, except as shall be expressly set forth by
specific reference in such filing.



Item 9.01.    Financial Statements and Exhibits

    (d)  Exhibits.

         99.1 Press release issued by Potlatch Corporation, dated
              February 5, 2007.

              POTLATCH REPORTS FOURTH QUARTER RESULTS
              ---------------------------------------




                                    SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Dated:  February 5, 2007



POTLATCH CORPORATION


By: /s/ Pamela A. Mull
    -------------------------------------------------------
    Pamela A. Mull
    Vice President, General Counsel and Corporate Secretary





                                  EXHIBIT INDEX


Exhibit    Description
-------    -----------

99.1       Press release issued by Potlatch Corporation, dated February 5, 2007.