Jul 29, 2011. /Lesprom Network/. Weyerhaeuser Company reported net earnings of $10 million for the 2Q 2011 on net sales of $1.8 billion. This compares with net earnings of $14 million on net sales of $1.8 billion for the same period last year, as the company said in a press release received by Lesprom Network. Earnings for the 2Q 2011 include after-tax charges of $22 million for special items. Excluding these items, the company reported net earnings of $32 million. This compares with net earnings before special items of $42 million in the 2Q 2010. Net cash provided by operations for the 2Q 2011 was $116 million, compared with $189 million for the 2Q 2010. The company’s cash balance decreased by $582 million in the 2Q, primarily due to repayment of debt. Weyerhaeuser ended the quarter with $881 million in cash and cash equivalents. “We are confident that our ongoing efforts to sharpen our focus and reduce costs are positioning us to achieve our goal of generating superior sustainable returns for our shareholders,” said Dan Fulton, president and CEO. “The recently announced agreements to sell our hardwoods and Westwood Shipping Lines operations demonstrate the focus we are placing on our strategic direction.” Net sales from discontinued operations include the net sales of Weyerhaeuser’s hardwoods and Westwood Shipping Lines businesses. These operations are reported as discontinued due to the expected sale of the businesses. Weyerhaeuser’s outstanding shares increased substantially from the 2Q 2010 due to a special dividend of approximately 324 million shares of common stock and $560 million in cash, paid on Sept. 1, 2010 in conjunction with the company’s conversion to a REIT. Weyerhaeuser Company, one of the world's largest forest products companies, began operations in 1900.