Louisiana-Pacific
(NYSE: LPX) reported Wednesday that the company posted a loss in second-quarter
earnings, but the results were still considered strong.
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The company
said its total sales for the second quarter were $266.2 million, down 31 percent
versus a year ago. The sales drop was primarily the result of dramatically
reduced
For the
quarter ended June 30, 2009, LP reported net sales of $266.2 million, down from
$387.0 million in the second quarter of 2008. For the second quarter, the
company reported an operating loss of $32.2 million as compared to a loss in
the second quarter of 2008 of $124.1 million.
The company
had a loss from continuing operations of 26 cents per share, better than the 33
cents per share loss prediction of analysts polled by Thomson Reuters.
Expenses
fell 42 percent during the quarter.
D.A.
Davidson analyst Steven Chercover on Wednesday reiterated his "Buy"
rating, raised his price target to $7.50 from $5.50 and trimmed his loss
estimate for this year to 88 cents from $1.02. Analysts polled by Thomson
Reuters expect, on average, a loss of $1.23 a share for the year.
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