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 weyerhaeuser 1998 Annual Report
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dollar amounts in millions exept per-share figures.
1997
  
1998
Net sales and revenues
Net earnings before nonrecurring items
Effect of nonrecurring items (1)
Net earnings
Cash flow from operations, before working capital changes
Capital expenditures (excluding acquisitions)
Total assets
Shareholders’ interest
$ 10,766
$ 11,210
339
(45)
351
(9)
294
342
1,018
615
12,834
4,526
1,092
656
13,075
4,649
 
 
1998
1997
  
before nonrecurring items
effect of nonrecurring items (1)
net
before nonrecurring items
effect of nonrecurring items (1)
net
Basic earnings per common share (2)
First quarter
$ .43
$ .43
$ .22
$ (.12)
$ .10
Second quarter
.34
.34
.47
.09
.56
Third quarter
.56
.56
.53
.04
.57
Fourth quarter
.38
(.23)
.15
.54
(.05)
.49
$ 1.71
$ (.23)
$ 1.48
$ 1.76
$ (.04)
$ 1.72

(1) The 1998 nonrecurring items are charges primarily associated with the closure of the Longview, Washington chemical facility; changing the British Columbia lumber operations; and the streamlining of pulp and paper operations.

The 1997 nonrecurring items are the net of gains on the sales of Weyerhaeuser Mortgage Company and Saskatoon Chemicals, Ltd., and interest income from a favorable federal income tax decision offset by the loss on the sale of Shemin Nurseries; the consolidation, closure or disposition of certain recycling facilities; and closure of two plywood facilities, an export lumber mill and a corrugated medium machine.

(2) Diluted earnings per common share by quarter for 1998 and 1997 were $0.43, $0.34, $0.55 and $ 0.15; and $0.10, $0.55, $0.57 and $0.49, respectively.
market prices -- high/low
1998
1997
First quarter
$ 5715/16 - 44 15/16
$ 50 5/8 - 441/2
Second quarter
61 7/16 - 44 9/16
55 ¼ - 42 5/8
Third quarter
47 7/16 - 36 3/4
63 15/16 - 51 5/8
Fourth quarter
51 9 /16 - 413/4
603/4 - 46 1/16
  
Year
61 7/16 - 36 3/4
63 15/16 - 42 5/8
  

The consolidated financial statements include: (1) Weyerhaeuser Company (Weyerhaeuser), principally engaged in the growing and harvesting of timber and the manufacture, distribution and sale of forest products, and (2) Real estate and related assets, principally engaged in real estate development and construction, and other real estate related activities.		  

 

 

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