* 1st-qtr revenue rises 1.7 pct to $1.98 billion
* Profit $0.31/share vs. $0.26/share year earlier
* Adj profit $0.26/share vs est $0.24
(Adds details, background, outlook, shares)
April 25 Timber conglomerate Weyerhaeuser Co
reported a better-than-expected first-quarter profit as
its acquisition of Longview Timber Holdings began paying off but
said it expected low prices and higher costs to hurt timberland
earnings in the current quarter.
Weyerhaeuser bought Longview Timber from Brookfield Asset
Management Inc last June for $2.65 billion, including
assumption of debt.
"Our Timberlands business is realizing increasing benefits
from the Longview Timber acquisition and reported its highest
quarterly earnings excluding land sales since 2006,"
Weyerhaeuser Chief Executive Doyle Simons said in a statement.
Weyerhaeuser, which manages 21 million acres of forests,
said it expected earnings to rise in its wood products and
cellulose fibers businesses in the second quarter.
Cellulose fibers are used in a wide range of products, from
diapers and textiles to paper and plastics. The company said it
expected higher price realizations and volumes for pulp and
liquid packaging board in the current quarter.
Net profit rose 27 percent to $183 million, or 31 cents per
share, in the quarter ended March 31 from $144 million, or 26
cents per share, a year earlier.
On an adjusted basis, the company earned 26 cents per share.
Revenue rose 1.7 percent to $1.98 billion.
Analysts on average had expected a profit of 24 cents per
share on revenue of $2.08 billion, according to Thomson Reuters
Federal Way, Washington-based Weyerhaeuser's shares closed
up 0.49 percent at $28.74 on the New York Stock exchange on
(Reporting By Shubhankar Chakravorty and Arnab Sen in
Bangalore; Editing by Gopakumar Warrier and Don Sebastian)