FEDERAL WAY, Washington (

TheStreet

) --

Weyerhaeuser

(WY) - Get Report

earned $10 million, or 2 cents a share, in the second quarter, down 29% from year-earlier earnings of $14 million, or 7 cents.

Excluding charges in the latest second quarter, earnings were $32 million, or 6 cents a share.

Analysts surveyed by Thomson Reuters expected Weyerhaeuser, the forest products company, to earn 9 cents a share.

Total sales in the quarter fell to $1.77 billion from $1.81 billion. Analysts expected sales of $1.75 billion.

Weyerhaeuser, in a press release Friday, said it expects "significantly lower earnings" from its timberlands segment in the third quarter.

-- Written by Joseph Woelfel

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