LP Reports Fourth Quarter and Year End 2006 Results NASHVILLE, Tenn.--(BUSINESS WIRE)--Feb. 6, 2007--Louisiana-Pacific
Corporation (LP) (NYSE: LPX) reported today a fourth quarter loss of
$25 million, or $0.24 per diluted share, on sales from continuing
operations of $370 million. In the fourth quarter of 2005, LP's net
income was $85 million, or $0.80 per diluted share, on sales from
continuing operations of $624 million. For the full year of 2006, LP
reported net income of $124 million, or $1.17 per diluted share, on
sales from continuing operations of $2.2 billion compared to net
income of $456 million, or $4.15 per diluted share, on sales from
continuing operations of $2.6 billion for the full year of 2005.
For the fourth quarter of 2006, loss from continuing operations
was $24 million, or $0.24 per diluted share. In the fourth quarter of
2005, LP's income from continuing operations was $91 million, or $0.86
per diluted share. For the full year of 2006, income from continuing
operations was $126 million, or $1.19 per diluted share. For the full
year of 2005, income from continuing operations was $476 million, or
$4.34 per diluted share. Results for the full year of 2006 included
charges primarily for impairments of long-lived assets and other net
operating charges totaling $3 million ($2 million after tax, or $0.02
per diluted share). Results for 2005 include a one-time reversal of
deferred tax liabilities of $94 million (or $0.86 per diluted share)
associated with the repatriation of foreign earnings as provided by
the American Job Creation Act of 2004.
"Fourth quarter sales declined 40% compared to the same quarter a
year ago, as levels of building activity dropped to the lowest levels
we have seen this decade," said Rick Frost, LP Chief Executive
Officer. "Weakened demand negatively affected volume and pricing in
all of our product lines."
"2006 began with solid product demand. Building activity and
demand began to weaken in the second quarter and continued to fall
throughout the remainder of 2006. The largest impact of the weakened
demand on our business has been the dramatic decline in OSB pricing,"
said Frost. "LP was profitable through the first three quarters, but
the fourth quarter loss lowered earnings for the year to $1.17 per
share."
Frost continued, "The first quarter of 2007 looks and feels a lot
like last quarter, with lower building activity and depressed prices
for our commodity products continuing. We are waiting to see how
rapidly excess inventory of new and existing homes for sale will be
absorbed. As that happens, demand for our non-OSB products should
improve. OSB may take longer, as it faces the added challenge of new
low cost capacity entering the market."
"We plan to continue to execute our strategic plans through this
downturn by improving market share, lowering costs, and funding our
capital investment program. The economic and demographic underpinnings
of housing demand over the long term remain solid," Frost concluded.
At 11:00 a.m. EST (8:00 a.m. PST) today, LP will host a webcast on
its fourth quarter 2006 financial results. To access the live webcast
and accompanying presentation, visit www.lpcorp.com and go to the
"Investor Relations" section from the main menu.
LP is a premier supplier of building materials, delivering
innovative, high-quality commodity and specialty products to its
retail, wholesale, homebuilding and industrial customers. Visit LP's
web site at www.lpcorp.com for additional information on the company.
FORWARD LOOKING STATEMENTS
This news release contains statements concerning Louisiana-Pacific
Corporation's (LP) future results and performance that are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The matters addressed in
these statements are subject to a number of risks, uncertainties and
assumptions that may cause actual results to differ materially from
those projected, including, but not limited to, the effect of general
economic conditions, including the level of interest rates and housing
starts, market demand for the company's products, and prices for
structural products; the effect of forestry, land use, environmental
and other governmental regulations; the ability to obtain regulatory
approvals; and the risk of losses from fires, floods and other natural
disasters. These and other factors that could cause or contribute to
actual results differing materially from those contemplated by such
forward-looking statements are discussed in greater detail in the
company's Securities and Exchange Commission filings.
LOUISIANA-PACIFIC CORPORATION AND SUBSIDIARIES
FINANCIAL AND QUARTERLY DATA
(Dollar amounts in millions, except per share amounts) (Unaudited)
Quarter Ended Year Ended
December 31, December 31,
--------------- -------------------
2006 2005 2006 2005
------- ------- --------- ---------
Net sales $369.6 $624.2 $2,235.1 $2,598.9
Income (loss) before taxes and
equity in earnings of
unconsolidated affiliates $(55.8) $103.1 $154.0 $536.4
Income (loss) from continuing
operations excluding (gain)
loss on sale or impairment of
long-lived assets, other
operating credits and charges,
net, loss on early
extinguishment of debt and
reversal of tax liabilities due
to repatriation $(21.2) $92.8 $127.5 $387.9
Income (loss) from continuing
operations $(24.4) $91.4 $125.5 $475.8
Net income (loss) $(24.6) $85.2 $123.7 $455.5
Net income (loss) per share
- basic $(0.24) $0.81 $1.18 $4.18
- diluted $(0.24) $0.80 $1.17 $4.15
Average shares outstanding (in
millions)
Basic 104.0 105.8 105.1 109.0
Diluted 104.3 106.3 105.5 109.7
Calculation of income (loss) from continuing operations excluding
(gain) loss on sale or impairment of long-lived assets, other
operating credits and charges, net, loss on early extinguishment of
debt and reversal of tax liabilities due to repatriation:
Income (loss) from continuing
operations $(24.4) $91.4 $125.5 $475.8
(Gain) loss on sale or impairment of
long-lived assets 1.7 2.1 2.6 3.5
Other operating credits and charges,
net 3.5 5.1 0.7 6.5
Loss on early extinguishment of debt - 0.5 - 0.5
------- ------ ------- -------
5.2 7.7 3.3 10.5
Provision for income taxes on above
items (2.0) (3.0) (1.3) (4.1)
Reversal of deferred tax liabilities
due to repatriation of foreign
earnings - (3.3) - (94.3)
------- ------ ------- -------
3.2 1.4 2.0 (87.9)
------- ------ ------- -------
$(21.2) $92.8 $127.5 $387.9
======= ====== ======= =======
Per share - basic $(0.20) $0.88 $1.21 $3.56
diluted $(0.20) $0.87 $1.21 $3.54
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
LOUISIANA-PACIFIC CORPORATION AND SUBSIDIARIES
(Dollar amounts in millions, except per share amounts) (Unaudited)
Quarter Ended Year Ended
December 31, December 31,
-----------------------------------
2006 2005 2006 2005
------- ------- --------- ---------
Net Sales $369.6 $624.2 $2,235.1 $2,598.9
------- ------- --------- ---------
OPERATING COSTS AND EXPENSES
Cost of sales 366.7 448.5 1,826.8 1,783.3
Depreciation, amortization and
cost of timber harvested 28.3 33.9 128.0 132.7
Selling and administrative 44.4 40.8 166.8 151.3
(Gain) loss on sale or
impairment of long lived
assets 1.7 2.1 2.6 3.5
Other operating credits and
charges, net 3.5 5.1 0.7 6.5
------- ------- --------- ---------
Total operating costs and
expenses 444.6 530.4 2,124.9 2,077.3
------- ------- --------- ---------
Income (loss) from operations (75.0) 93.8 110.2 521.6
------- ------- --------- ---------
NON-OPERATING INCOME (EXPENSE)
Foreign currency exchange
(loss) gain 6.2 0.2 (2.5) (1.4)
Loss on early extinguishment of
debt - (0.5) - (0.5)
Interest expense, net of
capitalized interest (10.5) (10.5) (49.4) (54.6)
Investment income 23.5 20.1 95.7 71.3
------- ------- --------- ---------
Total non-operating income
(expense) 19.2 9.3 43.8 14.8
------- ------- --------- ---------
Income (loss) before taxes and
equity in earnings of
unconsolidated affiliates (55.8) 103.1 154.0 536.4
Provision (benefit) for income
taxes (33.3) 12.9 24.2 61.3
Equity in (income) loss of
unconsolidated affiliates 1.9 (1.2) 4.3 (0.7)
------- ------- --------- ---------
Income (loss) from continuing
operations (24.4) 91.4 125.5 475.8
------- ------- --------- ---------
DISCONTINUED OPERATIONS
Income (loss) from discontinued
operations (0.3) (7.6) (2.9) (30.7)
Provision (benefit) for income
taxes (0.1) (2.5) (1.1) (11.5)
------- ------- --------- ---------
Income (loss) from discontinued
operations (0.2) (5.1) (1.8) (19.2)
------- ------- --------- ---------
Cumulative effect of change in
accounting principle, net of tax - (1.1) - (1.1)
------- ------- --------- ---------
Net income (loss) $(24.6) $85.2 $123.7 $455.5
======= ======= ========= =========
Net income per share of common
stock (basic):
Income (loss) from continuing
operations $(0.24) $0.86 $1.19 $4.37
Income (loss) from discontinued
operations - (0.05) (0.01) (0.19)
------- ------- --------- ---------
Net Income (loss) - per share
basic $(0.24) $0.81 $1.18 $4.18
======= ======= ========= =========
Net income per share of common
stock (diluted):
Income (loss) from continuing
operations $(0.24) $0.86 $1.19 $4.34
Income (loss) from discontinued
operations - (0.06) (0.02) (0.19)
------- ------- --------- ---------
Net Income (loss) - per share
diluted $(0.24) $0.80 $1.17 $4.15
======= ======= ========= =========
Average shares of stock
outstanding - basic 104.0 105.8 105.1 109.0
Average shares of stock
outstanding - diluted 104.3 106.3 105.5 109.7
CONDENSED CONSOLIDATED BALANCE SHEETS
LOUISIANA-PACIFIC CORPORATION AND SUBSIDIARIES
(Dollar amounts in millions) (Unaudited)
December 31, 2006 December 31, 2005
------------------ ------------------
ASSETS
Cash and cash equivalents $265.7 $607.6
Short-term investments 797.0 717.3
Receivables, net 157.4 146.8
Inventories 246.1 240.3
Prepaid expenses and other
current assets 9.3 9.6
Deferred income taxes 28.5 -
Current portion of notes
receivable from asset sales - 70.8
------------------ ------------------
Total current assets 1,504.0 1,792.4
Timber and timberlands 98.7 97.7
Property, plant and equipment 2,045.5 1,848.9
Accumulated depreciation (1,153.8) (1,065.6)
------------------ ------------------
Net property, plant and
equipment 891.7 783.3
Goodwill 273.5 273.5
Notes receivable from asset
sales 333.0 333.0
Long-term investments 40.4 13.5
Restricted cash 51.8 55.6
Investments in and advances to
affiliates 212.9 211.0
Other assets 30.4 38.0
------------------ ------------------
Total assets $3,436.4 $3,598.0
================== ==================
LIABILITIES AND EQUITY
Current portion of long-term
debt $0.4 $18.9
Current portion of limited
recourse notes payable - 69.7
Accounts payable and accrued
liabilities 240.9 243.2
Current portion of deferred tax
liabilities 14.6 2.3
Current portion of contingency
reserves 9.0 12.0
------------------ ------------------
Total current liabilities 264.9 346.1
Long-term debt, excluding
current portion:
Limited recourse notes payable 326.8 326.8
Other long-term debt 317.8 408.0
------------------ ------------------
Total long-term debt,
excluding current portion 644.6 734.8
Contingency reserves, excluding
current portion 25.6 31.4
Other long-term liabilities 70.0 65.8
Deferred income taxes 363.9 377.0
Commitments and contingencies
Stockholders' equity:
Common stock 116.9 116.9
Additional paid-in capital 437.8 436.7
Deferred compensation (2.0) (1.2)
Retained earnings 1,870.2 1,809.7
Treasury stock (284.0) (257.0)
Accumulated comprehensive loss (71.5) (62.2)
------------------ ------------------
Total stockholders' equity 2,067.4 2,042.9
------------------ ------------------
Total liabilities and equity $3,436.4 $3,598.0
================== ==================
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
LOUISIANA-PACIFIC CORPORATION AND SUBSIDIARIES
(Dollar amounts in millions) (Unaudited)
Year Ended December 31,
-----------------------
2006 2005
------------- ---------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $123.7 $455.5
Adjustments to reconcile net income to net
cash
provided by operating activities:
Depreciation, amortization and cost of timber
harvested 128.0 135.1
Loss (earnings) of unconsolidated affiliates 4.4 (0.7)
Other operating charges and credits, net 8.5 (2.3)
(Gain) loss on sale or impairment of long-
lived assets 2.4 20.7
Tax effect of exercise of stock options - 3.8
Stock-based compensation related to stock
plans 6.3 1.6
Excess tax benefits from stock-based
compensation (3.5) -
Cash settlement of contingencies (13.5) (13.5)
Net accretion for available for sale
securities (15.5) (3.3)
Other adjustments, net (0.4) 13.2
(Increase) decrease in receivables (20.6) 45.8
Increase in inventories (7.5) (14.4)
Decrease in prepaid expenses 2.6 3.6
Decrease in accounts payable and accrued
liabilities (2.0) (17.2)
Decrease in deferred income taxes (29.1) (113.9)
------------- ---------
Net cash provided by operating activities 183.8 514.0
------------- ---------
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant and equipment additions (236.5) (173.7)
Proceeds from asset sales 4.1 53.4
Receipt of proceeds from notes receivable 70.8 -
Investments and advances to joint ventures (8.7) (83.9)
Proceeds from sales of investments 4,898.8 3,724.8
Cash paid for purchase of investments (4,989.7) (3,813.9)
Decrease in restricted cash under letters of
credit 16.7 9.9
Other investing activities, net (3.0) 1.9
------------- ---------
Net cash used in investing activities (247.5) (281.5)
------------- ---------
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings under revolving credit lines 3.0 -
New borrowing of long-term debt - 202.2
Repayment of debt (186.4) (178.1)
Sale of common stock under equity plans 5.6 11.7
Excess tax benefits from stock-based
compensation 3.5 -
Purchase of treasury stock (41.1) (150.6)
Payment of cash dividends (63.2) (52.0)
Other financing activities, net 0.1 (0.8)
------------- ---------
Net cash used in financing activities (278.5) (167.6)
------------- ---------
EFFECT OF EXCHANGE RATE ON CASH AND CASH
EQUIVALENTS: 0.3 (2.0)
------------- ---------
Net increase (decrease) in cash and cash
equivalents (341.9) 62.9
Cash and cash equivalents at beginning of
period 607.6 544.7
------------- ---------
Cash and cash equivalents at end of period $265.7 $607.6
============= =========
LOUISIANA-PACIFIC CORPORATION AND SUBSIDIARIES
SELECTED SEGMENT INFORMATION
(Dollar amounts in millions) (Unaudited)
Quarter Ended Year Ended
December 31, December 31,
------------------------------------
2006 2005 2006 2005
------- ------- --------- ---------
Net sales:
OSB $184.2 $387.4 $1,212.2 $1,560.4
Siding 86.9 103.8 493.4 453.5
Engineered Wood Products 77.1 100.8 392.0 431.4
Other 22.9 35.1 139.0 163.7
Less: Intersegment sales (1.5) (2.9) (1.5) (10.2)
------- ------- --------- ---------
$369.6 $624.2 $2,235.1 $2,598.8
======= ======= ========= =========
Operating profit (loss):
OSB $(54.5) $111.9 $109.6 $528.4
Siding 6.6 4.7 67.3 45.2
Engineered Wood Products 4.6 8.5 33.2 34.0
Other (8.6) 1.0 (5.8) 13.0
Other operating credits and
charges, net (3.5) (5.1) (0.7) (6.5)
Gain (loss) on sales of and
impairment of long-lived assets (1.7) (2.1) (2.6) (3.5)
General corporate and other
expenses, net (19.8) (23.9) (95.1) (88.3)
Early extinguishment of debt - (0.5) - (0.5)
Foreign currency gains (losses) 6.2 0.2 (2.5) (1.4)
Investment income 23.5 20.1 95.7 71.3
Interest expense (10.5) (10.5) (49.4) (54.6)
------- ------- --------- ---------
Income (loss) from operations
before taxes (57.7) 104.3 149.7 537.1
Provision (benefit) for income
taxes (33.3) 12.9 24.2 61.3
------- ------- --------- ---------
Income (loss) from continuing
operations $(24.4) $91.4 $125.5 $475.8
======= ======= ========= =========
LOUISIANA-PACIFIC CORPORATION AND SUBSIDIARIES
NOTES TO FINANCIAL DATA
(Dollar amounts in millions, except per share amounts) (Unaudited)
1. Results of operations for interim periods are not necessarily
indicative of results to be expected for an entire year.
2. The major components of "Other operating credits and charges, net"
in the Consolidated Statements of Income for the quarter and year
ended December 31 and are reflected in the table below and are
described in the paragraph following the table:
Quarter Ended December 31, 2006 2005
----------------- -----------------
Pre-tax After tax Pre-tax After tax
------- --------- ------- ---------
Change in method of estimating
workers compensation liabilities $(2.1) $(1.3) $- $-
Revisions to environmental
contingency reserves - - (1.4) (0.9)
Net additions to product related
warranty reserves (3.9) (2.4) (4.0) (2.5)
Insurance recovery 1.9 1.2 - -
Other 0.6 0.4 0.3 0.2
------- --------- ------- ---------
$(3.5) $(2.1) $(5.1) $(3.2)
======= ========= ======= =========
Year Ended December 31, 2006 2005
----------------- -----------------
Pre-tax After tax Pre-tax After tax
------- --------- ------- ---------
Revisions to environmental
contingency reserves $- $- $(1.4) $(0.9)
Charges associated with the
corporate relocation - - (2.8) (1.7)
Recovery related to assets and
liabilities transferred under
contractual arrangement - - 1.0 0.6
Net additions to product related
warranty reserves (3.9) (2.4) (4.0) (2.5)
Change in estimates on workers
compensation liabilities (2.1) (1.3) - -
Insurance recovery 4.7 2.9 - -
Other 0.6 0.4 0.7 0.4
------- --------- ------- ---------
$(0.7) $(0.4) $(6.5) $(4.1)
======= ========= ======= =========
In the first quarter of 2005, LP recorded a gain of $0.9 million
($0.6 million after taxes, or $0.01 per diluted share) associated with
the recovery of a previous loss associated with the sale of the Samoa,
California pulp mill and a charge of $0.6 million ($0.4 million after
taxes, or $0.00 per diluted share) associated with the relocation and
consolidation of LP's corporate offices to Nashville, Tennessee.
In the second quarter of 2005, LP recorded a charge of $1.5
million ($0.9 million after taxes, or $0.01 per diluted share)
associated with the relocation and consolidation of LP's corporate
offices to Nashville, Tennessee.
In the third quarter of 2005, LP recorded a charge of $0.3 million
($0.2 million after taxes, or $0.00 per diluted share) associated with
the relocation and consolidation of LP's corporate offices to
Nashville, Tennessee.
In the fourth quarter of 2005, LP recorded a charge of $0.4
million ($0.2 million after taxes, or $0.00 per diluted share)
associated with the relocation and consolidation of LP's corporate
offices to Nashville, Tennessee, a charge of $1.4 million ($0.9
million after taxes, or $0.01 per diluted share) for environmental
related reserves associated with a facility that was previously held
for sale and a net charge of $4.0 million ($2.5 million after taxes,
or $0.02 per diluted share) associated with product related warranty
reserves associated with products that LP no longer manufacturers.
In the first quarter of 2006, LP recorded a charge of $0.1 million
associated with the relocation and consolidation of LP's corporate
offices to Nashville, Tennessee.
In the third quarter of 2006, LP recorded a gain of $2.8 million
($1.7 million after taxes, or $0.02 per diluted share) associated with
insurance recoveries related to the hurricanes which occurred in the
third and fourth quarter of 2005.
In the fourth quarter of 2006, LP recorded a gain of $1.9 million
($1.2 million after taxes, or $0.01 per diluted share) associated with
insurance recoveries related to the hurricanes which occurred in the
third and fourth quarter of 2005. LP also recognized a charge of $2.1
million ($1.3 million after taxes, or $0.01 per diluted share) in
connection with a change in the method of estimating future workers'
compensation liabilities by incorporating loss development and an
increase in the estimate associated with increased but not yet
reported workers compensation claims. LP also recorded a net charge of
$3.9 million ($2.4 million after taxes, or $0.02 per diluted share)
associated with product related warranty reserves associated with LP
class action suit due primarily to increases in administrative costs.
3. Income Taxes
Quarter Ended Year Ended
December 31, December 31,
--------------- ---------------
2006 2005 2006 2005
--------------- ---------------
Income (loss) from continuing
operations $(57.7) $104.3 $149.7 $537.1
Income (loss) from discontinued
operations (0.3) (7.6) (2.9) (30.7)
Cumulative effect of change in
accounting principle - (1.8) - (1.8)
------- ------- ------- -------
(58.0) 94.9 146.8 504.6
Total tax provision before effect of
repatriation (33.4) 13.0 23.1 143.4
------- ------- ------- -------
After-tax income before repatriation (24.6) 81.9 123.7 361.2
Effect of repatriation - (3.3) - (94.3)
------- ------- ------- -------
Net income (loss) $(24.6) $85.2 $123.7 $455.5
======= ======= ======= =======
Accounting standards require that the estimated effective income
tax rate (based upon estimated annual amounts of taxable income and
expense) by income component for the year be applied to year-to-date
income or loss at the end of each quarter. At year end, the income tax
accrual is adjusted to the latest estimate and the difference for the
previously accrued year-to-date balance is adjusted to the current
quarter. For the year ended December 31, 2006, the primary differences
between the U.S. statutory rate of 35% and the effective rate on
continuing operations relates to the recognition of the manufacturing
deduction enacted in 2004, interest deductible for income tax purposes
that is eliminated in the consolidation process, corrections of prior
year estimates, impact of the translation of Canadian operations and a
reduction in LP's Canadian deferred tax liabilities due to an enacted
decrease in the statutory income tax rate. For the year ended December
31, 2005, the primary difference between the U.S. statutory rate of
35% and the effective rate on continuing operations relates to the
recognition of the manufacturing deduction enacted in 2004, interest
deductible for income tax purposes that is eliminated in the
consolidation process and the reversal of previously accrued taxes no
longer needed because of the repatriation (discussion below).
During the fourth quarter of 2005, LP completed its plans to
repatriate accumulated earnings from its Canadian subsidiaries to the
U.S. under the provisions of the Homeland Investment Act. LP
repatriated approximately $517 million of Canadian earnings in the
fourth quarter and planned to pay approximately $28 million in U.S.
federal and state income taxes with respect to the distribution and an
additional $22 million, net of tax benefit, in Canadian withholding
taxes. Based upon LP's Canadian subsidiary's earnings in the fourth
quarter, LP recognized an additional benefit of $3.3 million.
The components and associated effective income tax rates applied
to each period are as follows:
Quarter Ended December 31,
---------------------------------------------
2006 2005
---------------------- ----------------------
Tax Provision Tax Rate Tax Provision Tax Rate
------------- -------- ------------- --------
Continuing operations $(33.3) 58% $16.2 16%
Effect of Repatriation - (3.3)
------------- -------------
Provision on
continuing
operations (33.3) 12.9
Discontinued operations (0.1) 38% (2.5) 33%
Cumulative effect of
change in
accounting principle - (0.7) 39%
------------- -------------
$(33.4) 58% $9.7 10%
============= =============
Year Ended December 31,
---------------------------------------------
2006 2005
---------------------- ----------------------
Tax Provision Tax Rate Tax Provision Tax Rate
------------- -------- ------------- --------
Continuing operations $24.2 16% $155.6 29%
Effect of Repatriation - (94.3)
------------- -------------
Provision on
continuing
operations 24.2 61.3
Discontinued operations (1.1) 38% (11.5) 33%
Cumulative effect of
change in
accounting principle - (0.7) 39%
------------- -------------
$23.1 16% $49.1 10%
============= =============
LOUISIANA-PACIFIC CORPORATION AND SUBSIDIARIES
SUMMARY OF PRODUCTION VOLUMES
Quarter Ended December 31, Year Ended December 31,
-------------------------- -----------------------
2006 2005 2006 2005
------------- ------------ ----------- -----------
Oriented strand
board, million
square feet 3/8"
basis 1,222 1,360 5,769 5,533
Oriented strand
board, million
square feet 3/8"
basis
(produced by wood-
based siding mills) 41 26 241 77
Wood-based siding,
million square feet
3/8" basis 194 220 953 941
Engineered I-Joist,
million lineal feet 25 37 149 166
Laminated veneer
lumber (LVL),
thousand cubic feet 1,505 2,532 9,466 11,184
Composite Decking,
million lineal feet 2 9 40 46
(1) Includes volumes produced by joint venture operations and sold to
LP.
CONTACT: Louisiana-Pacific Corporation
Media Relations:
Mary Cohn, 615-986-5886
or
Investor Relations:
Mike Kinney or Becky Barckley, 615-986-5600
SOURCE: Louisiana-Pacific Corporation
|
Louisiana-Pacific Corporation
