Louisiana-Pacific Corp. (LPX) 2007年年度报告「NYSE」.pdf

1、6MAR200809141596Louisiana-Pacific CorporationAnnual Report2007BUILD WITH US.Dear LP Shareholders,We expected 2007 to be a difficult year for the building products industry.It proved to be tougherthan anticipated.Oversupply of new home inventory and the accelerating sub-prime mortgage crisis led to a

2、 steepdecline in new home construction and a consequent fall-off in sales of building products.Weakeneddemand,parity of the US and Canadian dollar and decline in OSB average sales price all adverselyaffected LPs revenues and profits.Significant operating downtime to adjust inventories to targetedlev

3、els took a toll on our cost structure.As a result,LPs financial results for 2007 were verydisappointing:a net loss for the year of$180 million,or$1.73 per diluted share on sales fromcontinuing operations of$1.7 billion.That compares to 2006 net income of$124 million,or$1.17 perdiluted share on sales

4、 from continuing operations of$2.2 billion.OSB earnings declined by slightly more than$300 million compared to 2006,reduced primarily bya 30%decline in sales price.Income from our Siding segment declined by half to$34 million,andEngineered Wood Products profits fell to$11 million compared to$33 mill

5、ion in 2006.During the year,we announced the permanent closure of our St.Michel,Quebec OSB mill andour Hines,Oregon EWP facility,and the indefinite curtailment of our Silsbee,Texas OSB mill.InOctober,we exited our unprofitable decking business with the sale of our Meridian,Idaho deckingfacility and

6、the WeatherBest?brand.On the balance sheet,LP invested$336 million in capital in 2007 as we substantially completedthree new mills.During the year,we continued to pay our shareholders a dividend of$0.15 per shareeach quarter,and repurchased 1.4 million LP shares.Cash and investments at December 31,2