Weyerhaeuser Reports Loss on Big Charges

Weyerhaeuser Co. posted a steep fourth-quarter loss on hefty charges, and company executives conceded that the forest products giant was grappling with difficult business conditions and big industry changes.

Chief Executive Steve Rogel sought to reassure investors that the company was determined to respond aggressively, and he warned that it wouldn’t hesitate to close or sell operations that didn’t make the cut.

The Federal Way, Wash.-based company lost $211 million, or 86 cents a share, in the quarter, contrasted with a profit of $199 million, or 82 cents, in the same period in 2004. Revenue, however, grew 4% to $5.9 billion.

Excluding one-time items, Weyerhaeuser would have earned 94 cents a share for the quarter, beating Wall Street estimates. Analysts polled by Thomson Financial were expecting earnings of 74 cents a share on revenue of $5.7 billion.

Weyerhaeuser shares rose 25 cents to $67.50.