Weyerhaeuser profit slides

NEW YORK (Reuters) - Weyerhaeuser Co posted a fourth-quarter loss on Friday as its wood products business was hurt by the slump in the U.S. housing market, though adjusted earnings still beat Wall Street expectations.

Revenues slid 18 percent to $3.94 billion on declining sales from its wood products and timberlands business. Analysts, on average had looked for revenues of $4.12 billion, according to Reuters Estimates.

"Despite difficult market conditions, which we expect to continue through 2008, Weyerhaeuser remains focused on managing through the downturn and positioning the company to take full advantage of stronger markets once conditions improve," said Chief Executive Steven Rogel, in a statement.

(Reporting by Euan Rocha; Editing by Lisa Von Ahn/Jeffrey Benkoe)

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