Boise, Idaho-based Boise Cascade Co. reported third-quarter sales of $878.0 million, up 15% from the same quarter a year ago.
Net income was $15.9 million, down from $23.5 million in the same quarter last year.
CEO Tom Carlile described solid operating performances in both of the company’s businesses – distribution and wood products.
“Our distribution business rebounded sharply from a challenging second quarter and posted strong sales and earnings growth sequentially and compared with the prior-year quarter,” he said. “Wood Products executed well on internal veneer production, which allowed us to grow engineered wood product sales while maintaining plywood sales volumes.”
He added that the company completed the acquisition of two plywood operations in the Carolinas. “These added facilities position us well to support our existing, as well as new, customers in the Southeast.”
The wood products third-quarter segment sales, including sales to the company’s Building Materials Distribution, were $283.2 million, an increase of 9% from the year-ago quarter.
The building material distribution segment sales were $721.5 million in the third quarter, up 19% or $116.3 million from the same quarter a year ago.
For the remainder of 2013, the company expects to continue to experience demand below 20-year average historical levels for its products. However, the housing industry has shown signs of improvement in the United States, and says it is “optimistic that the improvement in demand for our products will continue.”