Nashville, TN-based Louisiana-Pacific Corp. (NYSE: LPX) reported fourth quarter sales of $275 million, an increase of 10% versus a year ago. The manufacturer of wood building materials recorded a loss from continuing operations of $47 million, compared to a loss of $340 million in the fourth quarter of 2008.
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For 2009, sales were down 23% to $1.1 billion. Full-year loss from continuing operations was $117 million, compared to a loss of $565 million in 2008.
\”While I am glad 2009 is behind us, LP made significant improvements compared to the prior year,\” CEO Rick Frost said. \”All of our operating segments improved in 2009 despite housing starts falling by 39 percent. We achieved almost 60 percent improvement in OSB; 20 percent better results in EWP; and a tenfold increase in operating results in Siding. \”