Jan 30, 2015. /Lesprom Network/. Weyerhaeuser Company reported 4Q net earnings attributable to common shareholders of $166 million, or 31 cents per diluted share, on net sales of $1.8 billion. This compares with net earnings of $43 million, or 7 cents per diluted share, on net sales of $1.8 billion from continuing operations for the same period last year, as the company said in the press release received by Lesprom Network.

Earnings for the 4Q 2014 include net after-tax gains of $21 million from special items. Excluding these items, the company reported net earnings of $145 million, or 27 cents per diluted share. This compares with net earnings from continuing operations before special items of $111 million, or 19 cents per diluted share for the same period last year.

For the full year 2014, Weyerhaeuser reported net earnings attributable to common shareholders of $1.8 billion, or $3.18 per diluted share, on net sales from continuing operations of $7.4 billion. This compares with net earnings of $540 million, or 95 cents per diluted share, on net sales from continuing operations of $7.3 billion for the same period last year.

Full year 2014 includes after-tax earnings of $998 million from discontinued operations related to the divestiture of Weyerhaeuser Real Estate Company and $84 million from special items. Excluding these items, the company reported net earnings of $700 million, or $1.25 per diluted share. This compares with net earnings from continuing operations before special items of $572 million, or 99 cents per diluted share, for the full year 2013.

"In 2014, we demonstrated our commitment to driving shareholder value," said Doyle Simons, president and CEO. "During the year, we divested our homebuilding business to become a focused forest products company, achieved our 2014 operational excellence targets and made significant progress on our multi-year initiatives, and improved earnings from continuing operations by more than 20% compared with 2013. In addition, we increased our dividend by 32% and completed nearly 30% of a newly authorized $700 million share repurchase program. For 2015, we remain relentlessly focused on driving operational excellence to fully capitalize on our improving markets and delivering value to our shareholders."

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. The company owns or controls nearly 7 million acres of timberlands, primarily in the U.S., and manage additional timberlands under long-term licenses in Canada.