Boise Cascade reported net income of $5 million, or $0.13 per share, on sales of $880.7 million for the 1Q ended March 31, 2016. 1Q results included $3.5 million of pre-tax acquisition related expenses, or a $0.06 per share after-tax impact.
Tom Corrick, CEO, said: "Our 1Q operating results reflected strong volume growth in our engineered wood product lines. We still face an oversupply situation in our plywood business, but pricing did stabilize during the first quarter. Our distribution business had an outstanding performance in the quarter, posting strong revenue and earnings growth across their product lines. We expect modest growth in residential housing construction for the balance of the year, which should drive additional demand for our products and services."
Boise Cascade is one of the largest producers of plywood and engineered wood products in North America and a leading U.S. wholesale distributor of building products.
