Weyerhaeuser posts Q3 profit of $280M
Weyerhaeuser Co. posted net income of $280 million for the third quarter, compared to $101 million for the third quarter of 2007. The lumber company's net income for the quarter included a $461 million gain from the shedding of its packaging division, but the future looks uncertain for its home-building operations. "We expect housing market conditions will remain difficult, and our businesses will continue to aggressively manage costs and inventory accordingly," said CEO Dan Fulton. Forbes/The Associated Press (10/31)