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Weyco Earnings

Posted on 29th July 2011 at 08:08

Weyerhaeuser is out with second-quarter earnings this morning, reporting a profit of $10 million in the second quarter of 2011. The company reports net earnings of $10 million, compared to net earnings of $14 million in the same period last year. Net sales came in at $1.8 billion, exactly the same as the second quarter of last year. President and CEO Dan Fulton says that they’re confident that ongoing efforts to sharpen their focus and reduce costs are putting the company in a position to generate superior returns for shareholders. Earlier this week, the company announced the sale of the Westwood Shipping Lines, which is part of the ongoing effort to continue the focus on core businesses. Company officials say performance improved in the Timberland segment of the company in the second quarter, but the expect that to soften in the third quarter. Wood products is also expected to continue to be soft, but they anticipate significant improvement in the cellulose fiber and homebuilding markets in the next three months.