Weyerhaeuser Company (NYSE: WY), Federal Way, WA, reported first quarter sales of $1.7 billion, a 0.9 percent decrease year-over-year. Profit decreased 50.8 percent to $90 million.
"We are pleased with our first quarter performance in Timberlands and Wood Products, as operational excellence efforts resulted in higher earnings compared with the fourth quarter in both businesses despite weaker market conditions," said Doyle Simons, president and CEO. "Our Cellulose Fibers business was challenged by a strengthening U.S. dollar, West Coast port disruptions, and a slower than expected restart of our largest fluff mill after a scheduled maintenance outage in the quarter."
