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For the full year 2011, sales were $1.4 billion, down 2 percent in a year-over-year comparison. Loss from continuing operations was $161 million, compared to a year-ago loss of $32 million.
"Demand for building products slowed in the fourth quarter due to seasonality and inventory reduction actions taken by our customers at year end,” CEO Rick Frost said. "For the full year, U.S. single family housing starts were down 9 percent to a 50-year low, which made 2011 another tough year for LP. On the bright side, our South American operations had a record year of profitability, and LP ended 2012 with a strong balance sheet that included $340 million in cash."