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New sensor-based approaches for assessing the quantity, quality, and value of timber are being developed with the goals of improving the accuracy and economics of forest measurements. One new approach is based on terrestrial laser scanning (TLS). Thirty-three plots in six radiata pine (Pinus radiata D. Don) stands were scanned using TLS. Tree locations were automatically detected. Stem profiles were measured using three methods: (i) TLS scans, (ii) Atlas Cruiser inventory procedures, and (iii) manual measurement after harvesting. Stems were optimally bucked based on log specifications and prices for Australian markets. Tree values and log product yields were estimated for the TLS data and compared with estimates based on Cruiser and actual manual measurements of stem profiles. TLS volume and value recovery were within 8% and 7%, respectively, of actual harvester recovery for five of the six stands in which it was used. Cruiser volume and value estimates were both within 4% of actual harvester recovery. Plot preparation procedures, tree characteristics, and taper equations used to model diameters on hidden stem sections affected the accuracy of automated stem detection and profile measurements for the TLS system. Improvements in data capture and analytical procedures should improve the accuracy of TLS-based volume and value estimates.