Willamette Industries says it outperformed rivals in the fourth quarter of 2001 despite difficult market conditions and the hostile takeover attempt by Weyerhaeuser.

It recorded net earnings of US$45.6m, down from US$86m in the corresponding period of 2000.

Full year earnings were US$248.8m from sales of US$4.5bn, down from US$344.9m and US$4.7bn in 2000.