Wood products producer Temple-Inland reported sales of $174 million in the building products division during its first fiscal quarter of 2011, a 13.7% rise over sales of $153 million during the same quarter of 2010.
Net loss for the division was $6 million during the first quarter, narrowing from a $9 million loss in the first fiscal quarter of 2010 and a $15 million loss in the fourth quarter of 2010.
The year-over-year improvement was credited to higher volumes and lower unit costs, which more than offset lower lumber prices, according to a company statement. Improvements in the building products operating results during the first quarter of 2011 compared with the fourth quarter of 2010 were due to higher lumber prices and seasonally higher volumes for all products.
Headquartered in Austin, Texas, Temple-Inland produces lumber, gypsum board, particleboard, Medium Density Fiberboard, fiberboard and other building products, in addition to paper and packaging products.