Weyerhaeuser, the timber and wood products company, said Friday that its second-quarter loss widened as the slumping housing market hurt demand for its building supplies. The weak real estate market has resulted in losses in six of the last seven quarters. The company lost $106 million, or 50 cents a share, compared with a loss in the year-earlier period of $96 million, or 45 cents a share. Sales fell 36 percent, to $1.39 billion from $2.17 billion a year ago. Before one-time items, Weyerhaeuser lost $125 million, or 59 cents a share, compared with a loss of 71 cents expected by analysts.
Read the full article by The Associated Press “Loss Widens at Weyerhaeuser, the Timber Company” in the New York Times (August 1, 2009).