Thanks to a strong performance from its engineered wood products business, US company Boise Cascade has posted increases in sales and income for the second quarter of 2005.
Sales for the period climbed to US$1.5bn, up from US$1.4bn in the previous quarter, and equal to the same period in 2004. Income rose from US$51.4m a year ago, to US$77.4m, although it was down on the US$81.7m recorded in the same period last year.
Despite the solid performance, profits were hit by special items including a withdrawn public offering and loan repayments, resulting in a net loss of US$14.5m.
“The continued growth of our engineered wood products business tempered the impact of commodity price decreases in our wood products and building materials distribution segments,” said chairman and CEO said Tom Stephens.
‘The recently completed expansion of facilities in our Louisiana region is expected to increase our overall engineered wood manufacturing capacity by around 40%.
“Shifting plywood production to engineered wood production allows us to grow in this business while reducing our exposure to commodity plywood.”
