Weyerhaeuser Company (NYSE: WY), Federal Way, WA, reported sales for the fourth quarter were $1.46 billion, a decline of 18.1% from fourth quarter 2008. The forest products company recorded a net loss of $175 million for the quarter, compared to a net loss of $1.21 billion in the prior year period.
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For full year 2009, sales were $5.53 billion, a decline of 31.8% from a year ago. The company recorded a full year net loss of $545 million, compared to a net loss of $1.18 billion in 2008.
\”The weak housing market continues to present challenges and affect our financial performance,\” said Dan Fulton, president and CEO. \”2009 has been another tough year and our financial results are disappointing. Despite difficult market conditions, we made significant progress this past year to position ourselves to rebuild revenues and earnings.\”