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Weyerhaeuser aforesaid today that its third-quarter gain advantage nearly tripled on hefty gains from the August demand of its $6 billion packaging business. But sales tumbled 37 percent and the Federal Way-based timber and pulp company warned of continued challenges in the fourth quarter.

For the three months ended Sept. 28, net income rose to $280 million, or $1.33 a share, from $101 million, or 47 cents a share, a year ago. But excluding $461 million in divestiture gains and other items, the company posted a forfeiture of $3 million, or 1 cent a share.

Sales fell to $2.62 billion from $4.15 billion.

The results beat estimates of analysts polled by means of Thomson Reuters, who had expected a wider loss of 6 cents a allotment without ceasing revenue of $2.56 billion.

The company, one of the world’s largest timberland and wood products manufacturers, issued a cautionary watch-tower for the relax of the year. Weyerhaeuser expects fourth-quarter earnings in its timberlands segment to decline from the third quarter, and losses in its homebuilding operations are expected to arise due to continuing weakness in the housing place of traffic.

Operating losses in its copse products dealing are expected to worsen taken in the character of prices and volumes decline in the seasonally slower fourth quarter. Profit in its cellulose fibers segment also are expected to fall sequentially, hurt by lower pulp prices.

“We anticipate housing emporium conditions will remain difficult, and our businesses will continue to aggressively manage costs and inventory accordingly,” Chief Executive Dan Fulton said in a statement. “As a result of actions we’ve already taken, we have a strong balance sheet and good fluidity.”

Weyerhaeuser stock closed down 46 cents, or 1.2 percent, at $38.22.

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