NASHVILLE, TN - Louisiana-Pacific (NYSE: LPX) says wood product sales for the first quarter were $362 million, 9 percent higher than a year ago. A net loss of $11.3 million was less than half the loss reported the year prior.
"All of our North American segments outperformed the same quarter last year,” said Curt Stevens, CEO, in announcing the earnings. “For the first time in many years, the housing news has been positive and this was reflected in our results.”
LP's Oriented Strand Board segment which manufactures and distributes OSB structural panel products is currently operating seven facilities and has indefinitely curtailed three others.
The OSB segment reported net sales for the first quarter of 2012 of $149 million, an increase from $132 million of net sales in the first quarter of 2011. Sales volumes were up 4 percent with sales prices increasing 6 percent.
Louisiana-Pacific's Siding segment products used in new construction as well as in the repair and remodeling markets reported net sales of $113 million, an increase of 6 percent. Its Engineered Wood Products which makes I-joists, laminated veneer lumber and laminated strand lumber used in new construction sales totaled $49 million for the quarter.
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