| NASHVILLE, TN -- Louisiana-Pacific Corporation reported today second quarter net income of $55 million, on sales from continuing operations of $653 million. In the second quarter of 2005, LP's net income was $100 million, on sales from continuing operations of $692 million.
"Lower OSB pricing levels and the strength of the Canadian dollar reduced our earnings for the second quarter," said CEO Rick Frost. "OSB pricing has come off hard as customers work to understand the direction of the construction market over the next three to six months. On a positive note, LP recorded the second successive quarter of good earnings from our non-OSB businesses, primarily siding and engineered wood products."
Frost continued, "We are seeing some regional weakening in new residential construction, which has caused a broad softening in the housing market. However, we continue to rely on our assumptions that solid demographic trends support strong housing and repair and remodel markets in the mid-to-long term."
LP's web site is at www.lpcorp.com
|
V 1.0
