Weyerhaeuser profits drop

  • Associated Press
  • Friday, October 21, 2005 9:00pm
  • Business

SEATTLE – Weyerhaeuser Co. reported a steep drop in third-quarter profits Friday, and the forest products company said it expects the residual effects of recent hurricanes and other industry pressures to hurt fourth-quarter earnings.

For the third quarter ended Sept. 25, Weyerhaeuser said earnings fell 52 percent to $285 million, or $1.16 per share, from $594 million, or $2.45 per share, in the comparable period last year. Total net sales and revenue edged down to $5.6 billion from $5.68 billion in the year-ago period.

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