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November 16, 2009

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Fourth-quarter profit rises

Friday, Jan. 21, 2005 | 10:52 a.m.

Weyerhaeuser Co., the world's biggest lumber company, said fourth-quarter earnings more than doubled on higher prices for packaging products and paper. Shares fell as the company missed analysts' estimates on rising costs.

Weyerhaeuser's home building operation, Pardee Homes, is a big player in the Southern Nevada building industry. Pardee Homes built more than 1,100 homes in the Las Vegas Valley in 2004, according to SalesTraq.

Net income increased to $199 million, or 82 cents a share, from $92 million, or 41 cents, a year earlier. Sales rose 14 percent to $5.89 billion, Federal Way, Wash.-based Weyerhaeuser said today in a statement.

Weyerhaeuser shares fell $1.28, or 2 percent, to $63.92 in late morning trading on the New York Stock Exchange. Its shares were at a 52-week high of $68.59 last month.

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