Weyerhaeuser Company (NYSE: WY), Federal Way, WA, reported profit of $65 million on net sales from continuing operations of $1.6 billion for the fourth quarter of 2011. This compares with profit of $171 million on net sales from continuing operations of $1.5 billion for the same period last year.
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For the full year 2011, Weyerhaeuser reported net earnings of $331 million on sales from continuing operations of $6.2 billion. This compares with net earnings of $1.28 billion on sales from continuing operations of $6 billion for the full year 2010.
\”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 CEO. \”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. Through the sale of our hardwoods and Westwood Shipping Lines businesses we sharpened our strategic direction, and we remain focused on improving performance to generate superior sustainable returns for our shareholders in 2012,\” Fulton said.
