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Weyco Results–

Posted on 29th April 2010 at 07:29

Weyerhaeuser is out with first-quarter financial results this morning, and while they’re still reporting a net loss in the first three months of the year, they say that there’s been a double-digit increase in sales, and that’s helped to reduce the flow of red ink. The company is reporting a net loss of $20 million for the first quarter; that compares to a loss of $264 million in the same period last year. President and CEO Dan Fulton says that they’re encouraged by the improved performance after “many difficult quarters.” He says that financial results have increased significantly over the past quarter, and on a year-to-year basis, due to better market conditions and efforts to improve long-term competitiveness. He says that the pace of the housing recovery remains uncertain, but he also says that the company is moving in the right direction. He says that the conversion of the Real Estate Investment Trust will also help improve future reports.