reported third-quarter earnings that beat analysts' expectations by 2 cents a share.
The Portland, Ore., forest products company posted third-quarter earnings of $83.4 million, or 76 cents a share, up from $81.9 million, or 73 cents a share, in last year's third quarter. The year-ago period includes a charge of 9 cents a share. A
First Call/Thomson Financial
survey of 13 analysts produced a mean earnings estimate of 74 cents a share for Willamette's latest third quarter.
Revenue for the third quarter was $1.12 billion, higher than last year's figure of $1.09 billion. The company cited healthy demand and lower costs for recycled brown paper for its higher earnings. Wall Street analysts have expected the slowing U.S. economy, lower prices and a strong dollar to dampen wood and paper companies' earnings for the rest of the year.