Weyerhaeuser Company today reported a net loss of $580 million for first quarter 2006, or $2.36 per diluted share, on net sales of $5.4 billion. This includes an impairment of goodwill associated with the company's fine paper business.
Excluding the goodwill impairment of $746 million, the company earned $166 million, or 67 cents per diluted share. This compares with net earnings of $239 million, or 98 cents per diluted share, on net sales of $5.4 billion for the same period last year. The company also announced today that, as a part of its previously announced strategic review, it is considering alternatives for its fine paper business.
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Inside:
First quarter 2005 earnings include the following after-tax items
Summary of first quarter financial highlights
Segment results for first quarter
Timberlands
Wood products
Lumber prices trended up
pulp ( glossary ) prices increasing
Containerboard, packaging and recycling
packaging price increases.
Real estate and related assets
::: Weyerhaeuser company statistical information
