Oct 31, 2008. /Lesprom.com/. After selling two divisions for $461 million in the 3Q, Weyerhaeuser Co. reported earnings of $280 million, or $1.33 per share, which compares with earnings of $101 million, or $0.47 per share a year earlier. Sales dropped to $2.6 billion from $4.1 billion in 2007. In the quarter Weyerhaeuser sold its containerboard, packaging and recycling operations to International Paper for $303 million, as well as its Australian operations for $158 million. The company also reported $176 million in one-time charges in the quarter. Excluding the charges and sales reported in the quarter, the company would have reported a loss of $3 million, or a loss of $0.01 per share. Analysts polled by Thomson Financial Network were expecting a loss of $0.06 per share and sales of $2.56 billion. “We expect housing market conditions will remain difficult, and our businesses will continue to aggressively manage costs and inventory accordingly,” said Dan Fulton, president and chief executive officer. “As a result of actions we’ve already taken, we have a strong balance sheet and good liquidity. We’re meeting the challenges of today’s markets, while preparing for stronger markets in the future.” Weyerhaeuser Company, one of the world’s largest forest products companies. In 2007, sales were $16.3 billion. It has offices or operations in 13 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities.