Building products company Louisiana-Pacific fourth-quarter loss narrows

Lousiana-Pacific 4Q loss narrows

NASHVILLE, Tenn. — Building products company Lousiana-Pacific Corp., which has been battered by the falloff in housing construction, said Wednesday that its fourth-quarter loss narrowed on improved sales and a favorable comparison with the 2008 quarter when it booked a large impairment charge.

The company lost $49.1 million, or 40 cents per share. That was better than the $340.5 million, or $3.31 per share, loss Louisiana-Pacific reported a year ago. The 2008 fourth-quarter loss included $274 million worth of goodwill impairment.

Sales rose 10 percent to $275 million on higher results in its division that makes boards and siding for residential construction.

Analysts surveyed by Thomson Reuters expected a quarterly loss of 19 cents per share on sales of $258 million.

For all of 2009, Louisiana-Pacific lost $121 million, or $1.12 per share.

Company shares fell 18 cents, or 2.5 percent, to $7.02 in afternoon trading.