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Weyerhaeuser Sales Increase 20% in 2010

Forest products company Weyerhaeuser Company (NYSE: WY), Federal Way, WA, reported sales for 2010 were $6.6 billion, an increase of 20 percent over sales in 2009. Profit was $1.28 billion, compared to a year-ago loss of $545 million.

For the fourth quarter, profit was $171 million on sales of $1.7 billion, compared to a loss of $175 million on sales of $1.5 billion for the same period a year ago.

"The record year for our Cellulose Fibers segment due to strong market conditions and excellent operational performance highlighted our 2010 results," said Dan Fulton, president and CEO. "Extremely challenging housing market conditions affected the financial performance of our Timberlands, Wood Products and Real Estate segments. We anticipate these market challenges will continue in 2011. However, I expect better performance due to ongoing operational improvements, which will create cost efficiencies and enhance the relative competitiveness of our businesses."

Timberlands segment sales increased 33 percent to $207 million in the fourth quarter. Sequentially, sales were down 14 percent from third quarter 2010.

Fourth-quarter sales in the Wood Products segment increased 12 percent year-over-year. Sequentially, sales were down 9 percent.

Cellulose Fibers fourth-quarter sales increased 25 percent year-over-year to $511 million. Sales fell 2 percent from third quarter 2010.

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