Article: LOUISIANA-PACIFIC'S THIRD QUARTER RESULTS INCLUDES $366.6 MILLION CHARGE

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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