Adjusted loss from continuing operations of $16.3M vs. $19.4M in the same quarter a year ago.
Financial results continued to be negatively affected by poor Oriented Strand Board (OSB) pricing and less demand than anticipated due to anemic housing recovery.
Revenue by segment: Oriented Strand Board -5%; Siding +10%; Engineered Wood Products +13.9%; South America -14.3%.
Cash and cash equivalents were $580M as of September 30, 2014.
The company's Board of Directors authorized the repurchase up to $100M of common stock. The purchases will be made from time to time as market conditions warrant and subject to regulatory considerations.
Louisiana-Pacific Corp along with its subsidiaries, is engaged in the manufacture of building products. It operates in four segments: North America Oriented Strand Board; Siding; Engineered Wood Products; and South America.