Weyerhaeuser Reports Lower Quarterly Earnings

Federal Way, WA, Feb. 3, 2012 -- Weyerhaeuser Company reported net earnings of $65 million for the fourth quarter, or $0.12 per share, on net sales from continuing operations of $1.6 billion.

This compares with net earnings of $171 million, or $0.32 per share, on net sales from continuing operations of $1.5 billion for the same period last year.

Earnings for the fourth quarter of 2011 include net after-tax charges of $12 million for restructuring and asset impairments.

The company manufactures Lyptus flooring, among many other product.

"In 2011 we took full advantage of opportunities to improve our performance in a weaker than expected U.S. housing market," said Dan Fulton, president and chief executive officer.

"In Timberlands, we used our long term competitive strength in the Asian export markets to capitalize on emerging Chinese demand. Cellulose Fibers leveraged strong customer relationships and excellent operational performance to deliver a second consecutive year of record financial results. Our Real Estate business maintained profitability despite challenging market conditions, and Wood Products generated improved results."