Louisiana-Pacific Corporation reported recently results for the fourth quarter and year ended December 2010.
"LP recorded positive adjusted EBITDA in the fourth quarter, a testament to our operational improvements and outstanding execution by our sales force," said Chief Executive Officer Rick Frost. "While we have not yet seen much improvement in housing starts, we have been able to take advantage of the improving repair and remodel market, international opportunities and strengthening siding sales."
For the quarter ended December 31, 2010, LP reported net sales of $316 million, up from $277 million in the fourth quarter of 2009. For the fourth quarter, the company reported a loss from operations of $18 million as compared to a loss in the fourth quarter of 2009 of $51 million. Adjusted EBITDA from continuing operations for the fourth quarter of 2010 was $0.2 million compared to a loss of $20 million in the fourth quarter of 2009.
For the fourth quarter of 2010, LP reported a loss from continuing operations of $2 million, or $0.02 per diluted share, compared to a loss from continuing operations of $47 million, or $0.37 per diluted share, for the fourth quarter of 2009.
For the year ended December 31, 2010, LP reported net sales of $1.4 billion, up from $1.1 billion in 2009. For the year ended 2010, the company reported a loss from operations of $8 million as compared to a loss in 2009 of $133 million. Adjusted EBITDA from continuing operations for the year was income of $82 million compared to a loss of $44 million for 2009.
For 2010, LP reported a loss from continuing operations of $32 million, or $0.25 per diluted share, as compared to a loss of $117 million, or $1.06 per diluted share, for 2009
