SEATTLE (AP) Weyerhaeuser Co. (WY) on Friday reported third-quarter net income of $255 million.

The Seattle-based company said it had net income of 34 cents per share. Earnings, adjusted for pretax gains, were 28 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The timber and paper products company posted revenue of $1.91 billion in the period.

Weyerhaeuser shares have dropped 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 1 percent. The stock has declined 17 percent in the last 12 months.

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