SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
the Securities Exchange Act of 1934
January 22, 1997
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(Date of earliest event report)
WEYERHAEUSER COMPANY
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(Exact name of registrant as specified in charter)
Washington 1-4825 91-0470860
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation or Number)
organization)
Tacoma, Washington 98477
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(Address of principal executive offices)
(zip code)
Registrant's telephone number, including area code:
(206) 924-2345
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Item 5. Other Events
On January 22, 1997, Weyerhaeuser Company issued the following
press release announcing its fourth quarter earnings:
"FEDERAL WAY, Wash., - Weyerhaeuser Company today reported net
earnings for 1996 of $463 million or $2.34 per common share.
This compares with 1995 net earnings of $983 million or $4.83 per
common share, before a special charge. Net sales in 1996 were
$11.1 billion, compared to $11.8 billion in 1995.
`1996 was a year of mixed results,' said John W. Creighton, Jr.,
Weyerhaeuser Company president and chief executive officer.
`Lower prices for Pulp, Paper and Packaging products were in
sharp contrast with the 1995 record levels, accounting for the
decline in our 1996 earnings. Timberlands and Wood Products,
driven by solid demand in the United States and Japan, enjoyed
continued good results despite weak panel markets. Tight
supplies and disruptions related to the countervailing duties on
imports from Canada contributed to strong lumber results.'
Fourth-quarter net earnings for 1996 were $98 million, or 50
cents per common share, compared with the prior year's fourth-
quarter earnings of $251 million or $1.25 per common share. Net
sales in fourth quarter 1996 were $2.8 billion, down from the
$3.1 billion for the comparable quarter of 1995.
Operating earnings for Timberlands and Wood Products for 1996
were $805 million, compared to $808 million for the previous
year. 1996 fourth quarter operating earnings were $226 million,
compared with $183 million in the year-ago quarter.
The company's Pulp, Paper and Packaging businesses had operating
earnings of $307 million for the year, down from $1.18 billion
for all of 1995. For the fourth quarter of 1996, earnings were
$31 million, compared to $304 million in the comparable quarter
of 1995.
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The company's Real Estate and Financial Services businesses
earned $43 million in 1996, compared with $13 million, before a
special charge, for the prior year. Those businesses reported
$22 million in earnings for the fourth quarter of 1996, compared
with $12 million in the year-ago quarter.
`We begin 1997 with unsettled markets in many of our businesses,'
Creighton said. `But we are well positioned to benefit when
market conditions improve in our Pulp, Paper and Packaging
businesses.'
Weyerhaeuser Company is one of the largest integrated forest
products companies in the world. Its principal businesses are
Timberlands and Wood Products; Pulp, Paper and Packaging; and
Real Estate and Financial Services. It is the world's largest
private owner of merchantable softwood timber and producer of
softwood lumber and market pulp. It is also one of North
America's largest producers of forest products and recyclers of
office wastepaper, newspaper and corrugated boxes."
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
WEYERHAEUSER COMPANY
By /s/ K. J. Stancato
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Its: Vice President and Controller
Date: January 22, 1997
