Please Follow Us On:

Follow Delta Gypsum on LinkedIn

Delta Gypsum on LinkedIn

Wednesday, April 20, 2011

Temple-Inland Reports First Quarter 2011 Results

Temple-Inland Inc. (NYSE:TIN - News) today reported first quarter 2011 net income of $16 million, or $0.15 per diluted share, compared with fourth quarter 2010 net income of $27 million, or $0.24 per diluted share, and a first quarter 2010 net loss of $4 million, or $0.04 per share.

First quarter 2011 net income excluding special items was $24 million, or $0.22 per diluted share, compared with fourth quarter 2010 net income excluding special items of $35 million, or $0.31 per diluted share, and first quarter 2010 net loss excluding special items of $1 million, or $0.01 per share.

Doyle R. Simons, chairman and chief executive officer of Temple-Inland Inc., said, “Our employees executed well in the quarter and delivered strong operating results, despite challenging weather conditions and rising input costs.

“In Corrugated Packaging, first quarter operating income was $98 million, and our return on investment was 18.3%. Our mills performed well in the quarter. We continue to be pleased with our progress on Box Plant Transformation II.

“In Building Products, our operating results improved compared with fourth quarter 2010 and first quarter 2010 despite continued weakness in housing markets. We generated $4 million of EBITDA in the quarter.
“Looking forward, in Corrugated Packaging, we are positioned to continue to generate returns well in excess of our cost of capital for the balance of the year. In Building Products, we remain committed to generating cash and returning to profitability as housing markets recover.”

Building Products operating results improved in first quarter 2011 compared with fourth quarter 2010 due to higher lumber prices and seasonally higher volumes for all products. Operating results improved in first quarter 2011 compared with first quarter 2010 as higher volumes and lower unit costs more than offset lower lumber prices. 

No comments:

Post a Comment