惠好报告第二季度净利3200万美元，摊薄每股15美分，销售额43亿美元

惠好公司(纽约证券交易所代码:WY)今天公布了2007年第二季度净利润3200万美元，摊薄每股15美分，销售额43亿美元。

(标志:http://www.newscom.com/cgi-bin/prnh/20040116/dygo -a.)(标识:http://www.newscom.com/cgi-bin/prnh/20040116/dygo -b.*木产品、房地产及相关资产部门的资产减值、木产品设施的关闭和加拿大分销设施的出售费用为3000万美元，或摊薄每股14美分。manbetx apk手机版*与债务提前解除相关的2700万美元费用，或稀释每股12美分。*涉及法律和解和合同终止的2500万美元费用，或稀释每股12美分。*在2007年第一季度Domtar交易中分配给惠好股东的精细纸业务及相关资产的额外成本支出为500万美元，即摊薄后每股2美分。*出售加州一处此前关闭的箱包厂场地，以及与火灾和随后关闭的新泽西箱包厂相关的费用，净赚1500万美元，或摊薄每股7美分。

除去这些项目，该公司2007年第二季度盈利1.04亿美元，摊薄后每股盈利48美分。

对2006年第二季度的业绩进行了重新预测，以反映作为非连续性经营的Domtar交易中包括的精细纸张业务和相关资产，并对已发生的费用计划主要维护成本应用新的会计公告。

2006年第二季度，惠好净收益为2.98亿美元，摊薄每股1.19美元，净销售额为49亿美元。2006年第二季度的收益包括以下税后项目:

*与重组纸板、包装和回收业务模式相关的费用为1200万美元，或摊薄后每股5美分。*与关闭设施相关的费用为1100万美元，或摊薄后每股4美分。

此外，2006年第二季度的净收益包括4800万美元的一次性税收优惠，即每股摊薄19美分，这与德克萨斯州所得税法的变更、加拿大联邦所得税税率的降低以及与医疗保险D部分补贴相关的递延税调整有关。

不包括这些项目，该公司在2006年第二季度盈利2.73亿美元，或摊薄后每股盈利1.09美元。

第二季度经营业绩总结*林地-较高的季节性成本和较低的非战略性林地销售对收益产生了不利影响。*木manbetx apk手机版材产品-木材，胶合板和定向刨花板价格略有上涨，但市场状况仍然困难。*纤维素纤维-价格持续上涨。*纸板包装和回收-正常的季节性上升的包装运输发生和平均价格实现包装增加由于产品组合，但纤维成本仍然很高。*房地产及相关资产-市场状况仍具挑战性，利润率继续下降。

“为了应对持续不断的市场挑战，我们在整个第二季度都在管理生产和成本，”董事长、总裁兼首席执行官史蒂文·r·罗格尔(Steven R. Rogel)说。“我们的重点仍然是我们一直在实施的为股东创造更多价值的战略举措。在下个季度，我们将寻求进一步降低成本和改善业绩的方法，因为我们面临着持续低迷的房地产市场带来的挑战。应对这些挑战需要做出艰难的决定，并需要每位员工的专注。”

第二季度财务概要百万（每股数据除外）2007年第二季度2006年第二季度变动净收益$32$298（$266）稀释每股收益$0.15$1.19（$1.04）净销售额$4334$4867（$533）第二季度分部业绩（税前收益贡献）百万2007年第二季度变动林地$142$224（$82）木制品（$123）$131（$254）纤维素纤维$48（$23）$25细纸$0（$20）$20纸板、包装和回收$112$69$43房地产及相关资产$64$123（$59）林地2007年第2季度2007年第1季度税前收益变化贡献（百万）$142$175（$33）manbetx apk手机版

2007年第二季度业绩——道路和造林成本的季节性增加，以及非战略性林地交易水平的降低，导致了第一季度收入的下降。此外，该部门还改变了对石油和天然气收入以及与租赁公司林地相关的收入的核算方法。这一变化的影响是第二季度收益减少了1100万美元。与第一季度相比，价格和成交量的变动没有产生显著影响。

2007年第三季度展望——惠好预计第三季度非战略性林地交易将高于第二季度。预计房地产市场的持续疲软将导致成交量和价格下降。

manbetx apk手机版2007年2Q 2007年1季度2007年1季度为税前收入进行贡献（亏损）（百万美元）（$ 123）（$ 167）$ 44

2007年第二季度业绩-排除以下项目，该部门的净亏损较第一季度减少了3800万美元，但仍然反映了艰难的市场状况。

* 2007年第二季度包括3,300万美元的资产减值税前支出和其他支出，包括出售加拿大分销业务，关闭Miramichi, New Brunswick的刨纸厂和宣布关闭Claresholm, Alberta的工程木材厂。* 2007年第二季度还包括1,700万美元的税前费用，用于预期的诉讼和解。* 2007年第一季度包括5,600万美元的税前支出，用于与加拿大分销业务和Miramichi方向的刨纸厂相关的资产减值支出。

住房需求疲软继续影响部门业绩。木材、胶合板和定向刨花板的平均价格较第一季度略有上升，部分抵消了工程木材价格下降的影响。木材和工程木材产品的销量增加了，但胶合板和定向刨花板的销量下降了。manbetx apk手机版加元走强对加拿大制造产品的收益贡献产生不利影响。

2007年3季度展望 - 该公司预计该分部将在第三季度的较小亏损中运营，而第二季度主要归因于以较高的价格为导向的股票板价格，日志和开销的成本减少。软木木材和工程木材产品的价格预计将减少。manbetx apk手机版该公司预计用于木材和工程木材产品的装运卷，仍将靠近第二季度。manbetx apk手机版以预期的轧机运行姿势为导向钢绞线的装运卷预计将减少。

纤维素纤维2007年第2季度2007年第1季度变化贡献税前收入(百万)$48 $22 $26

2007年2季度性能 - 市场条件继续改善。由于Domtar交易的第一季度，第二季度纸浆装运卷已于第二季度下降。由于第一季度的三厂维修中断，维护成本随着第二季度的两家轧机完成年度维护中断而改善，整体生产力得到改善。

2007年第三季度展望-惠好预计价格走强将导致第三季度该部门收益增加。公司的年度维修计划减少了。

集装箱板，包装和回收2007年第二季度2007年第一季度变化对税前收入的贡献(百万)112美元67美元45美元

2007年第二季度业绩——第二季度税前收益为2900万美元，用于出售此前关闭的加州箱包厂场地，以及500万美元与火灾和随后关闭的新泽西州Closter箱包厂有关的费用。不包括这些项目，与第一季度相比，部门收益增加了2100万美元。

平均包装价格实现增长主要是由于产品组合。硬纸板出口价格高于第一季度。增加的包装运输和较低的能源成本部分被增加的旧瓦楞纸箱(OCC)成本和集装箱厂每年的定期维护停机时间所抵消。

2007年第三季度展望-惠好预计第三季度的收益将从第二季度的水平增加。该公司预计将受益于更高的包装出货量，更少的定期维护中断和更低的季节性能源成本。预计OCC的成本会更高。

房地产及相关资产2007年第2季度2007年第1季度税前收益变动贡献（百万）$64$58$6

2007年第2季度业绩-单户住宅成交额较第一季度略有增加；然而，由于房地产市场疲软，平均销售价格和利润率继续下降。第二季度收入包括公寓项目销售收入4200万美元和资产减值费用1200万美元。积压的房屋已售出，但未关闭，大约持续了五个月。

2007年第三季度展望-惠好预计第三季度的收益将低于第二季度。由于艰难的市场环境，利润率继续下降。该公司预计第三季度不会从非住宅建筑活动中获得任何重大收益。

关于惠好

韦耶豪斯公司是世界上最大的林产品公司之一，成立于1900年。2006年，销售额为219亿美元。它在18个国家设有办事处或业务，客户遍布全球。Weyerhaeuser主要从事木材的种植和采伐；林产品的制造、分销和销售；及地产建设,发展及有关活动。有关Weyerhaeuser业务、产品和实践的更多信息，请访问//www.noirla.com/.

财报电话会议信息

Weyerhaeuser将于8月3日举行8点至太平洋（东部10次）的现场电话会议。3讨论第二季度结果。

如果想在北美地区参加会议，请至少在15分钟前拨打1-800-218-0530。北美以外的电话请拨1-303-205-0033。重放将可在一个星期内，1-800-405-2236(访问代码- 11092363#)从北美和1-303-590-3000(访问代码- 11092363#)从北美以外。这通电话将通过惠好公司的网站进行网络直播http://investor.weyerhaeuser.com/点击“Q2 2007收益会议电话”链接。

网络广播可通过Thomson StreetEvents网络提供给机构和个人投资者。万博电竞个人投资者可以听取电话万博电竞http://www.fulldisclosure.com/，汤姆森的个人投资者门户网站，由StreetEvents提供支持。机构投资者可以通过汤姆森的密码保护网站StreetEvents访问该电话(万博电竞http://www.streetevents.com/).

前瞻性声明

本新闻稿包含有关公司未来业绩和表现的声明，这些声明是1995年《私人证券诉讼改革法案》意义下的前瞻性声明。其中一些前瞻性陈述可以通过使用前瞻性术语识别，如“预期”、“可能”、“将”、“相信”、“应该”、“大约”、“预期”、“估计”和“计划”，“以及这些术语或类似术语的负面或其他变化，或通过讨论战略、计划或意图。特别是，其中一些前瞻性陈述涉及2007年第三季度对公司市场的预期、公司业务部门的收益和业绩、公司产品的需求和定价、非战略性土地销售、产品组合、OCC和纤维成本的增加，降低季节性能源成本和计划的年度维护停机及相关事项。此类报表的准确性受制于一些可能导致实际结果与预测结果存在重大差异的风险、不确定性和假设，包括但不限于：

*一般经济状况的影响，包括利率水平和新屋开工率;*对公司产品的市场需求，这可能与美国各业务部门的相对实力有关;*能源价格;*原材料价格;*化学价格;*公司生产运作的表现，包括意外的维修要求;*成功执行内部绩效计划;*来自国内外生产商的竞争水平;*林业、土地利用、环境和其他政府法规的影响，以及会计法规的变化;*天气的影响; * The risk of loss from fires, floods, windstorms, hurricanes, pest infestation and other natural disasters; * Transportation costs; * Legal proceedings; * The effect of timing of retirements and changes in the market price of company stock on charges for stock-based compensation; and * Performance of pension fund investments and related derivatives.

该公司还一大出口国和影响经济活动的变化在欧洲和亚洲,尤其是日本,货币汇率的变化,特别是相对价值的美元欧元和加元,和限制国际贸易或征收进口关税。这些因素和其他因素可能导致或促成与前瞻性陈述有实质不同的实际结果，因此，不能保证前瞻性陈述所预期的任何事件将会发生，或如果其中任何事件发生，他们将对公司的经营结果或财务状况产生什么影响。本公司明确拒绝任何义务公开修订任何前瞻性声明，这些声明是在本新闻稿发布日期之后做出的，以反映事件的发生。

欲了解更多信息，请联系：媒体-Bruce Amundson（253）924-3047分析师-Kathryn McAuley（253）924-2058 WEYERHAEUSER公司统计信息（未经审计）第一季度至第二季度合并收益（百万）4月1日、3月26日、7月1日、6月25日、7月1日、6月25日、，2007年2006年净销售额和收入：韦耶豪斯3404美元3761美元3775美元4121美元7179美元7882美元房地产和相关资产487 690 559 746 1046 1436总净销售额和收入3891 4451 4334 4867 8225 9318成本和费用：韦耶豪斯：售出产品成本（1）2785 2947 3085 3190 5870 6137折旧，损耗和摊销232 233 223 231 455 464销售费用109 100 109 117 218 217一般和管理费用200 235 199 205 399 440研发费用（2）16 16 15 34 31重组费用（撤销）（3）3（1）2 18 5 17设施关闭费用（4）5 2 19 5 24 7商誉减值（5）22--退还反补贴税和反倾销税-----其他经营成本（收入），净额（6）（7）21 31 5（26）26 5 3393 3563 3660 3755 7053 7318房地产及相关资产：成本和经营费用（8）379 482 415 553 794 1035折旧和摊销6 3 5 4 11 7销售费用41 37 45 43 86 80一般和管理费用28 30 27 35 55 65其他运营成本（收入），净额（4）（3）4.3长期资产减值12.12.3 450 549 508 641 958 1190总成本和费用3843 4112 4168 439 8011 8508营业收入48 339 166 471 214 810利息费用和其他：Weyerhaeuser:发生的利息费用（9）（131）（128）（179）（129）（310）（257）减：利息资本化30 16 29 20 59 36利息收入和其他20 19 25 15 45 34附属公司收入（损失）权益（10）（1）3 1 6-9房地产和相关资产：发生的利息费用（12）（14）（16）（14）（28）（28）减：利息资本化12 14 16 14 28未合并实体收入中的利息收入和其他3 10 1 3 4 13权益18 21 12 15 30 36所得税前持续经营收益（亏损）280 55 401 42 681所得税（1）（11）（3）（100）（18）（92）（21）（192）持续经营收益（亏损）180 37 309 21 489非连续性经营的收益（亏损），税后净额（12）771（756）（5）（11）766（767）净收益（亏损）（1）755美元（576）32美元298美元787美元（278）每股基本净收益（亏损）：连续性经营（0.07）0.73美元0.17美元1.24美元0.09美元1.98非连续性经营3.31（3.07）（0.02）（0.04）3.40（3.11）净收益（亏损）每股$3.24$（2.34）$0.15$1.20$3.49$（1.13）稀释每股净收益（亏损）：持续经营$0.07$0.73$0.17 1.23$0.09$1.97非连续经营$3.31（3.06）（0.02）（0.04）3.38（3.09）每股净收益（亏损）$3.24$（2.33）$0.15$1.19$3.49$（1.12）每股支付股息0.60美元0.50美元0.60美元0.50美元1.20美元1.00加权平均已发行股份（单位：千股）：基本233242 245794 217688 248147 225465 246971稀释233242 246970 218743 249194 226711 248082期末已发行普通股和可交换股（单位：千股）217726247555 217759 248269 217759 248269 248269 2006年第四季度截至2006年12月31日9月24日2006年净销售额和收入：Weyerhaeuser$3805$3649$15336房地产和相关资产749 1150 3335总净销售额和收入4554 4799 18671成本和费用：Weyerhaeuser:销售产品成本（1）3038 3007 12182折旧、折耗和摊销231 252 947销售费用111 123 451一般和管理费用214 241 895研发费用（2）23 15 69重组费用（转回）（3）4-21设施关闭费用（4）15 50 72商誉减值（5）-退还反补贴税和反倾销税-（344）（344）其他经营成本（收入），净（6）（7）（36）（105）（136）3600 3239 14157房地产和相关资产：成本和经营费用（8）539 764 2338折旧和摊销108 25销售费用44 56 180一般和管理费用30 29 124其他运营成本（收入），净额（2）（1）（3）长期资产减值14 19 36 635 875 2700总成本和费用4235 4114 16857营业收入319 685 1814利息费用和其他：Weyerhaeuser：发生的利息费用（9）（126）（136）（519）减：利息资本化21 27 84利息收入和其他17 19 70附属公司收入权益（损失）（10）-（2）7房地产及相关资产：发生的利息费用（12）（15）（55）减：未合并实体的利息资本化12 15 55利息收入和其他7 10 30权益收入14 8 58所得税前持续经营收益（亏损）252 611 1544所得税（1）（11）（86）（202）（480）收益（亏损）持续经营166 409 1064非连续经营的收益（亏损），税后净额（12）58 98（611) Net earnings (loss) (1) $224 $507 $453 Basic net earnings (loss) per share: Continuing operations $0.67 $1.72 $4.35 Discontinued operations 0.24 0.40 (2.50) Net earnings (loss) per share Diluted net earnings (loss) per share: $0.91 $2.12 $1.85 Continuing operations $0.67 $1.72 $4.33 Discontinued operations 0.24 0.40 (2.49) Net earnings (loss) per share $0.91 $2.12 $1.84 Dividends paid per share $0.60 $0.60 $2.20 Weighted average shares outstanding (in thousands): Basic 247,428 238,824 244,931 Diluted 247,900 239,525 245,780 Common and exchangeable shares outstanding at end of period (in thousands) 242,929 238,008 238,008 FOOTNOTES TO CONSOLIDATED EARNINGS (in millions) (1)The following adjustments were made to 2006 quarterly results to apply a new accounting pronouncement to expense planned major maintenance costs as incurred: Year-to- Year-to- date date Q1 2006 Q2 2006 Q2 2006 Q3 2006 Q4 2006 2006 Cellulose Fibers $(5) $(10) $(15) $13 $2 $- Fine Paper 7 (10) (3) 6 (3) - Containerboard, Packaging, and Recycling 4 (5) (1) 1 - - 6 (25) (19) 20 (1) - Income taxes (2) 9 7 (7) - - Net earnings (loss) $4 $(16) $(12) $13 $(1) $- (2) The third quarter of 2006 includes a $9 million charge related to the acquisition of OrganicID, a research and development company. (3)The second quarter of 2006 includes an $18 million charge related to the restructuring of the Containerboard, Packaging, and Recycling business model. (4) See detail of closure charges by segment on page 4. (5) The first quarter of 2007 includes a charge of $22 million for the impairment of goodwill associated with Canadian wood products distribution facilities. (6) Includes net foreign exchange gains (losses), primarily from fluctuations in Canadian and New Zealand exchange rates: Year-to- Year- date to- Q1 Q1 Q2 Q2 Q2 Q2 Q3 Q4 date 2007 2006 2007 2006 2007 2006 2006 2006 2006 $7 $(26) $29 $21$36 $(5) $17 $15 $27 (7) The first and second quarters of 2007 include $34 million and $12 million, respectively, in asset impairments related to wood products facilities. The second quarter also includes a $29 million gain on the sale of a previously closed box plant site, a $40 million charge for legal settlements and a contract termination, and $6 million in additional charges related to the sale of Canadian Wood Products distribution facilities. The third quarter of 2006 includes $23 million of income related to a reduction of the reserve for hardboard siding claims and charges of $7 million for the impairment of fixed assets related to production curtailments. The fourth quarter of 2006 includes $95 million of income related to a reversal of the reserve for alder litigation claims. (8)The first quarter of 2006 includes income of $8 million related to a warranty insurance recovery. (9) The second quarter of 2007 includes a $42 million charge related to the early extinguishment of debt. (10)The third quarter of 2006 includes a $2 million charge related to the impairment of investments in equity affiliates. (11) The second quarter of 2006 includes a one-time tax benefit of $48 million related to a change in Texas state income tax law, a reduction in the Canadian federal income tax rate and a deferred tax adjustment related to the Medicare Part D subsidy. (12)Discontinued operations includes the net operating results of the operations of the fine paper business and related assets and the North American and European composite panels operations. The first quarter of 2007 includes a pretax gain of $682 million and related tax benefit of $74 million and the second quarter of 2007 includes pretax charges of $4 million related to the distribution of the fine paper business and related assets to Weyerhaeuser shareholders. The first and second quarters of 2006 include charges of $746 million and $3 million, respectively, for the impairment of goodwill associated with the fine paper business. The third quarter of 2006 includes a pretax gain of $51 million and related tax expense of $18 million associated with the sale of the North American composite panels operations and an $8 million charge to write off additional goodwill associated with the coastal British Columbia operations. The fourth quarter of 2006 includes a pretax gain of $45 million and related tax expense of $4 million associated with the sale of the Irish composite panels operations. WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Net sales and revenues (in millions): (1)(2) Q1 Q2 Year-to-date April 1, March 26, July 1, June 25, July 1, June 25, 2007 2006 2007 2006 2007 2006 Timberlands: Logs $170 $201 $172 $198 $342 $399 Other products 63 62 39 71 102 133 233 263 211 269 444 532 Wood Products: Softwood lumber 574 782 647 857 1,221 1,639 Plywood 100 135 106 147 206 282 Veneer 9 13 14 13 23 26 Composite panels 24 121 24 140 48 261 Oriented strand board 152 287 153 273 305 560 Hardwood lumber 90 99 99 105 189 204 Engineered I-Joists 117 169 147 202 264 371 Engineered solid section 155 204 185 231 340 435 Logs 6 7 4 5 10 12 Other products 243 256 283 327 526 583 1,470 2,073 1,662 2,300 3,132 4,373 Cellulose Fibers: Pulp 405 394 370 402 775 796 Liquid packaging board 56 46 72 62 128 108 Other products 21 13 28 16 49 29 482 453 470 480 952 933 Fine Paper: (2) Paper 432 613 - 601 432 1,214 Coated groundwood 26 40 - 44 26 84 Other products 1 1 - 1 1 2 459 654 - 646 459 1,300 Containerboard, Packaging and Recycling: Containerboard 119 82 109 84 228 166 Packaging 951 911 1,043 1,002 1,994 1,913 Recycling 94 80 103 85 197 165 Bags 23 20 23 20 46 40 Other products 39 34 49 46 88 80 1,226 1,127 1,327 1,237 2,553 2,364 Real Estate and Related Assets 487 690 559 746 1,046 1,436 - Corporate and Other 97 116 105 117 202 233 Less: sales of discontinued operations (563) (925) - (928) (563) (1,853) $3,891 $4,451 $4,334 $4,867 $8,225 $9,318 (1) The fourth quarter of 2006 includes 14 weeks of operations compared to 13 weeks in all other quarters. (2) First quarter 2007 results include 9 weeks of operations for the fine paper business and related assets, prior to the distribution of these assets to Weyerhaeuser shareholders. Contribution (charge) to pre-tax earnings: (in millions) Q1 Q2 Year-to-date April 1, March 26, July 1, June 25, July 1, June 25, 2007 2006 2007 2006 2007 2006 Timberlands (1)(2) $175 $198 $142 $224 $317 $422 Wood Products (1)(2)(5) (167) 117 (123) 131 (290) 248 Cellulose Fibers(1)(2)4) 22 (5) 48 23 70 18 Fine Paper(1)(2)(4)(6) 20 (756) - (20) 20 (776) Containerboard, Packaging and Recycling(1)(2)(4)(7) 67 26 112 69 179 95 Real Estate and Related Assets(2)(8) 58 172 64 123 122 295 Corporate and Other(1)(2)(3)(9) 633 (102) (44) (40) 589 (142) $808 $(350) $199 $510 $1,007 $160 Net sales and revenues (in millions): (1)(2) Q3 Q4 Year-to-date Sept. 24, Dec. 31, Dec. 31, 2006 2006 2006 Timberlands: Logs $200 $182 $781 Other products 46 56 235 246 238 1,016 Wood Products: Softwood lumber 733 625 2,997 Plywood 134 113 529 Veneer 9 7 42 Composite panels 71 25 357 Oriented strand board 203 176 939 Hardwood lumber 96 98 398 Engineered I-Joists 162 137 670 Engineered solid section 190 169 794 Logs 5 6 23 Other products 302 268 1,153 1,905 1,624 7,902 Cellulose Fibers: Pulp 404 457 1,657 Liquid packaging board 59 62 229 Other products 19 22 70 482 541 1,956 Fine Paper: (2) Paper 604 652 2,470 Coated groundwood 42 45 171 Other products 2 - 4 648 697 2,645 Containerboard, Packaging and Recycling: Containerboard 92 119 377 Packaging 997 1,021 3,931 Recycling 89 91 345 Bags 23 25 88 Other products 44 47 171 1,245 1,303 4,912 Real Estate and Related Assets 749 1,150 3,335 Corporate and Other 123 128 484 Less: sales of discontinued operations (844) (882) (3,579) $4,554 $4,799 $18,671 (1) The fourth quarter of 2006 includes 14 weeks of operations compared to 13 weeks in all other quarters. (2) First quarter 2007 results include 9 weeks of operations for the fine paper business and related assets, prior to the distribution of these assets to Weyerhaeuser shareholders. Contribution (charge) to pre-tax earnings: (in millions) Q3 Q4 Year-to-date Sept. 24, Dec. 31, Dec. 31, 2006 2006 2006 Timberlands (1)(2) $178 $167 $767 Wood Products (1)(2)(5) 11 205 464 Cellulose Fibers(1)(2)4) 66 58 142 Fine Paper(1)(2)(4)(6) 68 61 (647) Containerboard, Packaging and Recycling(1)(2)(4)(7) 97 71 263 Real Estate and Related Assets(2)(8) 135 293 723 Corporate and Other(1)(2)(3)(9) (78) (3) (223) $477 $852 $1,489 WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) FOOTNOTES TO CONTRIBUTION (CHARGE) TO PRE-TAX EARNINGS (in millions) (1) Closure charges Year-to-date by segment: Q1 2007 Q1 2006 Q2 2007 Q2 2006 Q2 2007 Q2 2006 Timberlands $- $- $- $- $- $- Wood Products 3 - 15 1 18 1 Cellulose Fibers - (1) - - - (1) Fine Paper 2 - - 11 2 11 Containerboard, Packaging and Recycling 2 2 3 5 5 7 Corporate and Other - - 1 - 1 - $7 $1 $19 $17 $26 $18 Closure charges Year-to-date by segment: Q3 2006 Q4 2006 2006 Timberlands $- $1 $1 Wood Products 10 48 59 Cellulose Fibers 1 (3) (3) Fine Paper 3 1 15 Containerboard, Packaging and Recycling 3 4 14 Corporate and Other 26 - 26 $43 $51 $112 The above closure charges include costs incurred within the company's discontinued operations. (2) Share-based compensation charges (income) recognized by Year-to-date segment: Q1 2007 Q1 2006 Q2 2007 Q2 2006 Q2 2007 Q2 2006 Timberlands $1 $1 $- $- $1 $1 Wood Products 2 2 2 - 4 2 Cellulose Fibers 2 1 - - 2 1 Fine Paper - - - - - - Containerboard, Packaging and Recycling 1 2 2 (1) 3 1 Real Estate and Related Assets 2 - 1 2 3 2 Corporate and Other 14 15 5 (5) 19 10 $22 $21 $10 $(4) $32 $17 Share-based compensation charges (income) recognized by Year-to-date segment: Q3 2006 Q4 2006 2006 Timberlands $- $- $1 Wood Products - 1 3 Cellulose Fibers - 1 2 Fine Paper 1 - 1 Containerboard, Packaging and Recycling 1 - 2 Real Estate and Related Assets - - 2 Corporate and Other 1 7 18 $3 $9 $29 (3) Net foreign exchange gains (losses) included in Corporate and Year-to-date Other: Q1 2007 Q1 2006 Q2 2007 Q2 2006 Q2 2007 Q2 2006 $7 $(26) $34 $20 $41 $(6) Net foreign exchange gains (losses) included in Corporate and Year-to-date Other: Q3 2006 Q4 2006 2006 $17 $14 $25 (4) See detail of quarterly adjustments made to apply a new accounting pronouncement to expense planned major maintenance costs as incurred on page 2. (5) Additional Wood Products notes: (a) The first quarter of 2007 includes charges of $22 million for the impairment of goodwill associated with Canadian distribution facilities and $34 million in asset impairments related to wood products facilities. (b) The second quarter of 2007 includes a charge of $17 million for the expected settlement of litigation (c) The second quarter of 2007 includes charges of $12 million in asset impairments related to wood products facilities and $6 million in additional charges related to the sale of Canadian distribution facilities. (d) The third quarter of 2006 includes $23 million of income related to a reduction of the reserves for hardboard siding claims. (e) The third quarter of 2006 includes a $51 million gain on the sale of the company's North American composite panels operations. (f) The third quarter of 2006 includes charges of $7 million for the impairment of fixed assets related to production curtailments. (g) The fourth quarter of 2006 includes $344 million of income from the refund of countervailing and anti-dumping duties. (h) The fourth quarter of 2006 includes $95 million of income related to a reversal of the reserves for alder litigation claims. (6) Additional Fine Paper notes: (a) The first and second quarters of 2006 include charges of $746 million and $3 million, respectively, for the impairment of goodwill associated with the fine paper business. (7) Additional Containerboard, Packaging and Recycling notes: (a) The second quarter of 2007 includes a $29 million gain on the sale of a previously closed box plant site in California and $3 million in charges related to a fire at the Closter, NJ box plant. (b) The second and third quarters of 2006 include charges of $18 million and $3 million, respectively, related to the restructuring of the Containerboard, Packaging and Recycling business model. (8) Additional Real Estate and Related Assets notes: (a) The first and second quarters of 2007 includes net gains (losses) on land and lot sales of $3 million and ($1) million, respectively. The first, second, third and fourth quarters of 2006 include net gains (losses) on land and lot sales of $33 million, ($1) million, $0, and $110 million, respectively, or $142 million year-to-date. (b) The second quarter of 2007 includes a gain of $42 million on the sale of an apartment project. The fourth quarter of 2006 includes a $28 million gain on the sale of an apartment building. (c) The second quarter of 2007 includes charges for the impairment of assets of $12 million. The second, third, and fourth quarters of 2006 include charges for the impairment of assets of $3 million, $14 million, and $19 million, respectively, or $36 million year-to-date. (d) The first quarter of 2006 includes income of $8 million related to a warranty insurance recovery and income of $9 million related to recognition of deferred income in connection with partnership restructurings. (9) Additional Corporate and Other notes: (a) The first quarter of 2007 includes a $682 million pretax gain and the second quarter includes charges of $4 million related to the distribution of the fine paper business and related assets to Weyerhaeuser shareholders. (b) The second quarter of 2007 includes a $23 million charge for legal settlements and a contract termination. (c) The third quarter of 2006 includes an $8 million charge to write off additional goodwill associated with the coastal British Columbia operations. (d) The third quarter of 2006 includes a $9 million charge related to the acquisition of OrganicID, a research and development company. (e) The fourth quarter of 2006 includes a $45 million pretax gain on the sale of the company's Irish composite panels operations. WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Third party sales volumes: (1)(2) Q1 Q2 Year-to-date April 1, March 26, July 1, June 25, July 1, June 25, 2007 2006 2007 2006 2007 2006 Timberlands (thousands): Logs - cunits 750 935 762 808 1,512 1,743 Wood Products (millions): Softwood lumber - board feet 1,657 1,921 1,805 2,113 3,462 4,034 Plywood- square feet (3/8") 310 389 305 458 615 847 Veneer - square feet (3/8") 57 61 82 63 139 124 Composite panels - square feet (3/4") 36 302 35 324 71 626 Oriented strand board - square feet (3/8") 942 1,000 899 1,069 1,841 2,069 Hardwood lumber - board feet 89 103 99 110 188 213 Engineered I-Joists - lineal feet 82 114 108 137 190 251 Engineered solid section - cubic feet 7 9 10 11 17 20 Logs - cunits (in thousands) 46 55 33 46 79 101 Cellulose Fibers (thousands): Pulp - air-dry metric tons 594 651 524 647 1,118 1,298 Liquid packaging board- tons 67 56 82 71 149 127 Fine Paper (thousands): (2) Paper - tons 461 753 - 662 461 1,415 Coated groundwood - tons 38 52 - 59 38 111 Paper converting - tons 318 511 - 474 318 985 Containerboard, Packaging and Recycling (thousands): Containerboard - tons 259 211 230 189 489 400 Packaging - MSF 17,754 18,342 18,965 19,168 36,719 37,510 Recycling - tons 654 733 656 719 1,310 1,452 Kraft bags and sacks - tons 25 20 23 20 48 40 Real Estate and Related Assets: Single-family homes sold 1,684 1,472 1,139 1,325 2,823 2,797 Single-family homes closed 976 1,161 1,062 1,483 2,038 2,644 Single-family homes sold but not closed at end of period 2,207 3,105 2,284 2,947 2,284 2,947 Third party sales volumes: (1)(2) Q3 Q4 Year-to-date Sept. 24, Dec. 31, Dec. 31, 2006 2006 2006 Timberlands (thousands): Logs - cunits 850 843 3,436 Wood Products (millions): Softwood lumber - board feet 1,974 1,863 7,871 Plywood- square feet (3/8") 437 379 1,663 Veneer - square feet (3/8") 48 43 215 Composite panels - square feet (3/4") 139 37 802 Oriented strand board - square feet (3/8") 989 1,038 4,096 Hardwood lumber - board feet 100 99 412 Engineered I-Joists - lineal feet 110 95 456 Engineered solid section - cubic feet 9 7 36 Logs - cunits (in thousands) 26 42 169 Cellulose Fibers (thousands): Pulp - air-dry metric tons 625 698 2,621 Liquid packaging board- tons 72 76 275 Fine Paper (thousands): (2) Paper - tons 641 693 2,749 Coated groundwood - tons 59 64 234 Paper converting - tons 462 485 1,932 Containerboard, Packaging and Recycling (thousands): Containerboard - tons 202 254 856 Packaging - MSF 18,425 18,932 74,867 Recycling - tons 678 745 2,875 Kraft bags and sacks - tons 22 27 89 Real Estate and Related Assets: Single-family homes sold 906 838 4,541 Single-family homes closed 1,439 1,753 5,836 Single-family homes sold but not closed at end of period 2,414 1,499 1,499 (1) The fourth quarter of 2006 includes 14 weeks of operations compared to 13 weeks in all other quarters. (2) First quarter 2007 results include 9 weeks of operations for fine paper and related assets, prior to the distribution of these assets to Weyerhaeuser shareholders. WEYERHAEUSER COMPANY STATISTICAL INFORMATION Total production volumes: (1)(2) Q1 Q2 Year-to-date April 1, March 26, July 1, June 25, July 1, June 25, 2007 2006 2007 2006 2007 2006 Timberlands (thousands): Fee depletion - cunits 2,140 2,132 2,038 2,083 4,178 4,215 Wood Products (millions): Softwood lumber - board feet 1,427 1,663 1,451 1,650 2,878 3,313 Plywood - square feet (3/8") 114 241 115 245 229 486 Veneer - square feet (3/8") (3) 298 455 338 455 636 910 Composite panels - square feet (3/4") - 278 - 288 - 566 Oriented strand board - square feet (3/8") 968 1,073 847 1,062 1,815 2,135 Hardwood lumber - board feet 73 82 75 83 148 165 Engineered I-Joists - lineal feet 87 121 114 136 201 257 Engineered solid section - cubic feet 6 11 9 12 15 23 Cellulose Fibers (thousands): Pulp - air-dry metric tons 539 676 419 588 958 1,264 Liquid packaging board- tons 60 61 77 75 137 136 Fine Paper (thousands): (2) Paper - tons (4) 444 724 - 672 444 1,396 Coated groundwood - tons 43 56 - 56 43 112 Paper converting - tons 318 498 - 461 318 959 Containerboard, Packaging and Recycling (thousands): Containerboard - tons (5) 1,515 1,575 1,506 1,533 3,021 3,108 Packaging - MSF 19,007 19,550 19,721 20,290 38,728 39,840 Recycling - tons (6) 1,619 1,716 1,589 1,684 3,208 3,400 Kraft bags and sacks - tons 23 19 23 20 46 39 Total production volumes: (1)(2) Q3 Q4 Year-to-date Sept. 24, Dec. 31, Dec. 31, 2006 2006 2006 Timberlands (thousands): Fee depletion - cunits 2,040 2,195 8,450 Wood Products (millions): Softwood lumber - board feet 1,559 1,483 6,355 Plywood - square feet (3/8") 237 177 900 Veneer - square feet (3/8") (3) 494 335 1,739 Composite panels - square feet (3/4") 100 - 666 Oriented strand board - square feet (3/8") 1,009 1,022 4,166 Hardwood lumber - board feet 82 77 324 Engineered I-Joists - lineal feet 130 86 473 Engineered solid section - cubic feet 10 8 41 Cellulose Fibers (thousands): Pulp - air-dry metric tons 660 664 2,588 Liquid packaging board- tons 73 73 282 Fine Paper (thousands): (2) Paper - tons (4) 675 725 2,796 Coated groundwood - tons 59 59 230 Paper converting - tons 485 487 1,931 Containerboard, Packaging and Recycling (thousands): Containerboard - tons (5) 1,544 1,608 6,260 Packaging - MSF 19,341 20,670 79,851 Recycling - tons (6) 1,641 1,788 6,829 Kraft bags and sacks - tons 18 25 82 (1)The fourth quarter of 2006 includes 14 weeks of operations compared to 13 weeks in all other quarters. (2)First quarter 2007 results include 9 weeks of operations for fine paper and related assets, prior to the distribution of these assets to Weyerhaeuser shareholders. (3)Veneer production represents lathe production and includes volumes that are further processed into plywood and engineered lumber products by company mills. (4)Paper production includes unprocessed rolls and converted paper volumes. (5)Containerboard production represents machine production and includes volumes that are further processed into packaging and kraft bags and sacks by company facilities. (6)Recycling production includes volumes processed in Weyerhaeuser recycling facilities that are consumed by company facilities and brokered volumes. WEYERHAEUSER COMPANY STATISTICAL INFORMATION CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in millions) April 1, July 1, Dec. 31, Assets 2007 2007 2006 Weyerhaeuser Current assets: Cash and cash equivalents $1,172 $208 $223 Receivables, less allowances 1,394 1,508 1,183 Inventories 1,437 1,308 1,355 Prepaid expenses 356 378 385 Assets held for sale 114 - 105 Current assets of discontinued operations - - 870 Total current assets 4,473 3,402 4,121 Property and equipment 6,850 6,775 7,061 Construction in progress 467 544 395 Timber and timberlands at cost, less fee stumpage charged to disposals 3,705 3,721 3,681 Investments in and advances to equity affiliates 498 510 499 Goodwill 2,158 2,181 2,185 Deferred pension and other assets 1,378 1,470 1,368 Restricted assets held by special purpose entities 915 916 917 Noncurrent assets of discontinued operations - - 3,011 20,444 19,519 23,238 Real Estate and Related Assets Cash and cash equivalents 13 7 20 Receivables, less allowances 77 75 144 Real estate in process of development and for sale 1,540 1,561 1,449 Land being processed for development 1,427 1,476 1,365 Investments in unconsolidated entities, less reserves 81 83 72 Other assets 396 383 423 Consolidated assets not owned 264 287 151 3,798 3,872 3,624 Total assets $24,242 $23,391 $26,862 Liabilities and Shareholders' Interest Weyerhaeuser Current liabilities: Notes payable and commercial paper $163 $92 $72 Current maturities of long-term debt 70 63 488 Accounts payable 920 1,010 948 Accrued liabilities 1,220 1,145 1,363 Current liabilities of discontinued operations - - 258 Total current liabilities 2,373 2,310 3,129 Long-term debt 6,849 5,980 7,069 Deferred income taxes 2,897 2,906 3,011 Deferred pension, other postretirement benefits and other liabilities 1,691 1,775 1,759 Liabilities (nonrecourse to Weyerhaeuser) held by special purpose entities 763 765 765 Noncurrent liabilities of discontinued operations - - 717 14,573 13,736 16,450 Real Estate and Related Assets Notes payable and commercial paper 427 412 - Long-term debt 605 605 606 Other liabilities 565 539 606 Consolidated liabilities not owned 232 246 115 1,829 1,802 1,327 Total liabilities 16,402 15,538 17,777 Shareholders' interest 7,840 7,853 9,085 Total liabilities and shareholders' interest $24,242 $23,391 $26,862 WEYERHAEUSER COMPANY STATISTICAL INFORMATION STATEMENT OF CASH FLOWS Q1 Q2 Year-to-date SELECTED April 1, March 26, July 1, June 25, July 1, June 25, INFORMATION 2007 2006 2007 2006 2007 2006 (unaudited) (in millions) (Weyerhaeuser only, excludes Real Estate & Related Assets) Net cash from operations $180 $(324) $227 $292 $407 $(32) Cash paid for property and equipment $(114) $(182) $(140) $(184) $(254) $(366) Cash paid for timberlands reforestation $(12) $(12) $(12) $(9) $(24) $(21) Cash received from issuances of debt $- $- $- $- $- $- Revolving credit facilities, notes and commercial paper borrowings, net $10 $(68) $22 $19 $32 $(49) Payments on debt $(638) $(158) $(918) $(10) $(1,556) $(168) Proceeds from the sale of operations $1,350 $- $- $- $1,350 $- Repurchases of common stock $- $- $(22) $- $(22) $- STATEMENT OF CASH FLOWS Q3 Q4 Year-to-date SELECTED Sept. 24, Dec. 31, Dec. 31, INFORMATION 2006 2006 2006 (unaudited) (in millions) (Weyerhaeuser only, excludes Real Estate & Related Assets) Net cash from operations $373 $887 $1,228 Cash paid for property and equipment $(173) $(273) $(812) Cash paid for timberlands reforestation $(6) $(10) $(37) Cash received from issuances of debt $3 $1 $4 Revolving credit facilities, notes and commercial paper borrowings, net $195 $(95) $51 Payments on debt $(58) $(5) $(231) Proceeds from the sale of operations $187 $86 $273 Repurchases of common stock $(332) $(340) $(672)

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联系人:布鲁斯·阿蒙森，电话+1-253-924-3047，或分析师凯瑟琳·麦考利，
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