Boise Cascade’s wood products division reduced its fourth quarter loss in 2009, despite sales falling 12% on the year.
The loss of US$9.4m in 2009 was an improvement on the US$24.7m loss in the fourth quarter of 2008. The division recorded sales of US$136.8m.
Boise said the wood products team performed well in a “very difficult environment”, reducing working capital and improving operating efficiencies.
Net revenue for all divisions was US$33.6m. This included US$41.8m from the sale of 17.6 million shares.
The company expects demand to remain weak in 2010 and for its production to be below capacity.
