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Article: LOUISIANA-PACIFIC'S THIRD QUARTER RESULTS INCLUDES $366.6 MILLION CHARGE
- Article from:
- PR Newswire
- Article date:
- October 30, 1995
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Copyright informationCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PORTLAND, Ore., Oct. 30 /PRNewswire/ -- Louisiana-Pacific Corp. (NYSE: LPX) today reported third quarter results that included a $366.6 million charge ($221.8 million after tax, or $2.07 per share) against earnings. The charge primarily reflects the cost of recent class action settlements concerning the company's siding product.
Without the unusual charge, the company earned $62.7 million, or $.59 per share, on sales of $776.8 million. This compares with record 1994 third quarter earnings of $95.1 million, or $.86 per share, on sales of $818.4 million. The impact of the charge, after accounting for tax benefits, left L-P with a third quarter loss of $159.1 million, or $1.48 ...
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