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Louisiana-Pacific reports 1Q loss

Louisiana-Pacific Corp. today reported a $37 million first quarter loss that the company blamed largely on the downturn in residential construction. The company's first quarter net sales fell to $406 million from $678.3 million in the first three...

Louisiana-Pacific Corp. today reported a $37 million first quarter loss that the company blamed largely on the downturn in residential construction.

The company's first quarter net sales fell to $406 million from $678.3 million in the first three months of 2006. A year ago the company reported $83.7 million in net income.

All segments of the business saw reduced sales compared with the same period a year ago, CEO Rick Frost said.

Oriented strand board was particularly hard hit. "OSB lost money as pricing was nearly 50 percent lower than the first quarter of 2006," Frost said.

Louisiana Pacific operates a siding plant in Two Harbors and manufactures siding and oriented strand board at a plant in Hayward.

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