Potlach Posts $4.5 Million Net Loss in 4Q

SPOKANE, WA – Potlatch Corp. posted a net loss of $4.5 million for its fourth quarter, including a loss of $9.8 million related to discontinued operations.

“The wood products segment continued to experience weak market conditions with a segment operating loss of $11.4 million in $Q compared to a loss of %5.0 million in 4Q 2007,” the company said in a press release. “Due to the continuing weak market conditions, most of our lumber mill operations were down from one to two weeks during the fourth quarter. Our Post Falls, ID, particleboard facility was shut down for five weeks during the quarter…We expect to experience continued weak market conditions well into 2009 and are taking steps to mitigate the losses.”

Net earning for all of 2008, including discontinued operations, were $52.5 million compared to $58.4 million for the full year 2007.

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