US engineered wood manufacturer Boise Cascade has announced a net income of US$11.4m for the quarter ended March 31, 2010.
Wood product division sales were up 27% on a year ago to US$148m, primarily due to a higher engineered volume of more than 50%, while lumber sales were up 19% and plywood prices rose 15%.
The division broke even in the first quarter, compared with a US$28.6m loss a year ago.
First quarter 2010 housing starts were 17% higher than a year ago but new residential construction remained weak with annualised housing starts of approximately 620,000.
Boise said it expected to continue to experience below normal demand for products it distributes and manufactures.
