Weyerhaeuser is out with its second-quarter report this morning, and the news is pretty goof for the Federal Way-based timber giant. Net income for the quarter is reported at $196 million, compared to $47 million in the same period last year. Net sales are also up 20 percent, reported at $2.1 billion. The company is also reporting the acquisition of 645,000 acres of forestlands across the northwest, purchased from Longview Timber. In this morning’s conference call, President and CEO Dan Fulton says that this was a “milestone quarter,” with the company moving forward both strategically and operationally. Fulton says that they should see some slowdown in the timber and wood products sectors in the coming quarter, and in, but there could be a slight bump up in the cellulose fiber and real estate segments of the company.