LP Posted a Second-Quarter Operating Loss of US$37m From Continuing Operations

Increasing OSB sales volumes and prices helped Louisana-Pacific’s (LP) main OSB division return second-quarter operating profits of US$17m (2011: US$23m loss). The OSB division reported net sales of US$195m (2011: US$141m). Sales prices grew by 22%, accounting for a US$33m increase in operating results. Across all divisions, LP posted a second-quarter operating loss of US$37m from continuing operations, from net sales of US$428m. LP’s engineered wood products division, comprising I-joists, LVL and laminated strand lumber, recorded an operating loss of US$3m (2011: US$3m loss) from US$52m sales. The siding division reported US$19m operating profits (2011: US$11m) from sales of US$137m. “Going into the second half of the year, we remain cautiously optimistic, ” said CEO Curt Stevens. “Though it appears that the general economy may be slowing, housing activity continues to improve, ” he said Source: ttjonline