Rochester,NY 8/28/2009 9:52:22 PM
Boise, Inc. BZ, Reports Second Quarter 2009 Financial Results
Boise, Inc.
Boise Cascade Holdings, announced net income of $9.3 million for the quarter ended June 30, 2009. Included in its net income was $30.3 million of noncash income associated with the Company's equity investment in Boise Inc.
In second quarter 2009, BC Holdings' building products subsidiary, Boise Cascade, L.L.C., reported negative earnings before interest, taxes,depreciation, and amortization ("EBITDA") of $3.5 million, as compared to negative EBITDA of $31.3 million in first quarter 2009.
In stark contrast to the first quarter when the company used $86 million of cash, the Company's cash and net debt position improved $15.0 million during the second quarter, with the company reporting $282.3 million of available liquidity at June 30, 2009.
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