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WILLAMETTE INDUSTRIES RELEASES EARNINGS

 WILLAMETTE INDUSTRIES RELEASES EARNINGS
 PORTLAND, Ore., Oct. 13 /PRNewswire/ -- Willamette Industries'


(NASDAQ: WMTT) third-quarter earnings were $20 million, or 37 cents per share, up from 27 cents per share during the same period last year, but down 18 percent from second quarter 1992 earnings, the company announced today.
 Year-to-date earnings were $68,303,000, or $1.28 per share, more than double 1991's 60 cents per share.
 Sales for the nine-month period were $1,775,702,000, up 22 percent from the same period in 1991.
 William Swindells, chairman of the board of Willamette, said that moderate demand for building materials and production capacity limited by timber availability in the West led to strong lumber and plywood prices. However, the high price of western raw materials and reduced volumes caused by traditional summer vacation schedules kept earnings of the company's Building Materials Group at a moderate level. Willamette's paper markets remained stable through the quarter.
 Willamette Industries Inc. is an integrated, domestic forest products company with 94 plants and mills and over 1.2 million acres of timberland.
 WILLAMETTE INDUSTRIES INC.
 FINANCIAL HIGHLIGHTS
 Quarter Ended Sept. 30: 1992 1991
 Share Earns $ 0.37 $ 0.27
 Sales 622,548,000 504,979,000
 Earnings Before Taxes 32,335,000 21,902,000
 Net Earnings 20,048,000 13,579,000
 Average Shares Outstanding 54,743,000 50,690,000
 Nine Months Ended Sept. 30: 1992 1991
 Share Earns $ 1.28 $ 0.60
 Sales 1,775,702,000 1,461,016,000
 Earnings Before Taxes 110,166,000 49,345,000
 Net Earnings 68,303,000 30,594,000
 Average Shares Outstanding 53,464,000 50,960,000
 WILLAMETTE INDUSTRIES INC.
 Quarterly Statistical Data
 Third Quarter 1992
 Third Quarter
 1992 1991
 PRODUCT SHIPMENTS
 Lumber - 1" 104,579 84,237
 Plywood - 3/8" 488,284 457,109
 Particleboard - 3/4" 143,338 113,366
 MDF - 3/4" 52,962 29,552
 Corrugated - MSF 4,562,724 3,519,908
 Grocery Bags - Tons 34,324 34,807
 Business Forms - Tons 76,766 69,641
 Cut-sheets - Tons 22,088 19,653
 Unbleached Mills - Tons 316,502 301,389
 Bleached Pulp - Tons 40,993 39,403
 Fine Paper - Tons 108,359 101,435
 Penntech - Tons 39,975 32,827
 SEGMENT INFORMATION ($ in Thousands)
 Sales:
 Building Materials Group $ 224,763 $ 160,177
 Paper Group 397,785 344,802
 Operating Earnings:
 Building Materials Group 21,047 10,866
 Paper Group 28,994 27,507
 SUPPLEMENTAL FINANCIAL ($ in Thousands)
 Cost of Sales $ 528,862 $ 431,184
 Selling & Administration 43,645 35,422
 Other Income - Net (454) (928)
 Interest Expense - Net 17,252 15,543
 Capitalized Interest 1,737 154
 Income Taxes 12,287 8,323
 Tax Rate (percents) 38.0 38.0
 Depreciation & Amortization 38,598 33,430
 Fee Stumpage 5,619 3,558
 Deferred Taxes 4,915 15,101
 Plant, Property & Equipment (A) (B) 96,261 65,393
 Timber, Roads & Reforestation 5,870 2,477
 (A) Includes capitalized interest
 (B) Excludes corrugated container plant assets purchased from Boise Cascade
 - $90.1 million (second quarter 1992); and assets of Bohemia
 - $123.2 million (third quarter 1991)
 Year-to-Date
 1992 1991
 PRODUCT SHIPMENTS
 Lumber - 1" 369,564 252,348
 Plywood - 3/8" 1,527,737 1,410,816
 Particleboard - 3/4" 425,165 342,887
 MDF - 3/4" 138,263 87,545
 Corrugated - MSF 11,657,530 9,673,668
 Grocery Bags - Tons 100,123 106,390
 Business Forms - Tons 227,407 204,786
 Cut-sheets - Tons 67,761 56,804
 Unbleached Mills - Tons 924,126 879,663
 Bleached Pulp - Tons 121,441 118,690
 Fine Paper - Tons 317,124 281,407
 Penntech - Tons 104,378 100,919
 SEGMENT INFORMATION ($ in Thousands)
 Sales:
 Building Materials Group $ 672,596 $ 447,345
 Paper Group 1,103,106 1,013,671
 Operating Earnings:
 Building Materials Group 75,384 10,658
 Paper Group 86,430 87,834
 SUPPLEMENTAL FINANCIAL ($ in Thousands)
 Cost of Sales $1,491,885 $1,257,494
 Selling & Administration 122,003 105,030
 Other Income - Net (725) (4,027)
 Interest Expense - Net 50,923 45,120
 Capitalized Interest 3,353 291
 Income Taxes 41,863 18,751
 Tax Rate (percents) 38.0 38.0
 Depreciation & Amortization 110,665 98,398
 Fee Stumpage 17,039 12,806
 Deferred Taxes 13,745 18,750
 Plant, Property & Equipment (A) (B) 228,900 155,046
 Timber, Roads & Reforestation 23,275 12,952
 (A) Includes capitalized interest
 (B) Excludes corrugated container plant assets purchased from Boise Cascade
 - $90.1 million (second quarter 1992); and assets of Bohemia
 - $123.2 million (third quarter 1991)
 -0- 10/13/92
 /CONTACT: J.A. Parsons, executive vice president, Willamette Industries, 503-273-5635/
 (WMTT) CO: Willamette Industries ST: Oregon IN: PAP SU: ERN


SC -- SE004 -- 9160 10/13/92 09:21 EDT
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Date:Oct 13, 1992
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