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BRIEF: Weyerhaeuser's 2013 profit surges

January 31, 2014

The Seattle Times

Jan. 31 -- Weyerhaeuser said its 2013 net earnings jumped 40 percent to $540 million , or 95 cents a share, as net sales rose 20 percent to $8.5 billion . The company said strong construction markets in China drove increased demand and selling prices for Western logs, and its results benefited from a full quarter's harvest from its Longview Timber acquisition. Weyerhauser's earnings fell slightly short of Wall Street projections, and its stock lost 2.9 percent, closing at $29.88 , compared with the S&P 500's 0.7 percent loss. The 2013 earnings include after-tax charges of $114 million for special items, primarily for the previously announced write-down of a Las Vegas real estate project that was not included in the company's merging of its homebuilding unit with TRI Pointe Homes . ___ (c)2014 The Seattle Times Visit The Seattle Times at www.seattletimes.com Distributed by MCT Information Services


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Source: Seattle Times (WA)


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