Federal Way, Wash.-based Weyerhaeuser Co. reported net earnings of $65 million for the fourth quarter, on net sales from continuing operations of $1.6 billion. This compares with net earnings of $171 million on net sales from continuing operations of $1.5 billion for the same period last year.
"In 2011 we took full advantage of opportunities to improve our performance in a weaker than expected US 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 improv