BOISE, ID -- Boise Cascade Holdings LLC reported a $16.2 million net loss for the fourth quarter ended December 31, 2010, and a $6.1 million full year 2010 net loss.
During 2010, BC Holdings sold its remaining equity interest in Boise Inc. for net proceeds of $86.1 million and recognized a $25.3 million gain. The Company contributed the proceeds to its wholly owned operating subsidiary, Boise Cascade LLC.
"I am proud of how both of our businesses performed last year at the second lowest level of housing starts in over 50 years," said Tom Carlile, CEO. "Our Wood Products and BMD operating segments reported a combined $38.1 million of EBITDA, which was a $66.8 million year-over-year improvement. In addition, we were able to improve our net debt position by $61 million in 2010, and we are well positioned for the year ahead."
Boise's Wood Products segment sales in the fourth quarter were $156.6 million, up 14% from the same quarter a year ago. The sales increase was attributable primarily to 12% higher plywood sales volumes, 7% higher I-joist sales volumes, 12% higher I-joist net selling prices, and 13% higher laminated veneer lumber net selling prices.
Read more about Boise Cascade's 2010 financial report.
Posted by Rich Christianson
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