Joining me this morning are Dan Fulton, President and Chief Executive Officer; and Patty Bedient, Executive Vice President and Chief Financial Officer.As summarized on Chart 1, Weyerhaeuser reported second quarter 2012 net earnings of $84 million or $0.16 per diluted share on net sales of $1.8 billion. Earnings for the second quarter include after-tax gain of $37 million from special items. These items are detailed in Chart 2, a GAAP reconciliation of earnings before special items. A gain of $33 million or $0.06 per share for postretirement plan amendments, no further gains are anticipated from these benefit changes which were effective June 30; and a gain of $4 million or $0.01 per share for the sale of properties. Excluding special items, the company reported net earnings of $47 million or $0.09 per diluted share.
Weyerhaeuser Management Discusses Q2 2012 Results - Earnings Call Transcript
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