Feb 6, 200910:08 AMBlog

Weyerhaeuser posts fourth quarter loss

Feb 6, 2009 - 10:08 AM
Weyerhaeuser Co. has reported a net loss of $1.2 billion for the fourth quarter, or $5.73 per share, on net sales from continuing operations of $1.8 billion. Last year, Weyerhaeuser reported a fourth quarter net loss of $63 million, or 30 cents per share, on net sales from continuing operations of $2.5 billion. For 2008, the Federal Way wood products giant reported a net loss of $1.176 billion, or $5.57 per share, on net sales from continuing operations of $8 billion. This compares with net earnings of $790 million, or $3.60 per share, on net sales from continuing operations of $10.8 billion for 2007. Comparing the quarterly loss to the yearly loss shows how bad the lumber market has fallen from the construction fall off since most of the annual loss came in the final months of the year.

But about half of the loss, some $827 million comes in a goodwill drop in estimated value of the operations and not an actual loss of revenue falling behind expenses.

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