Boise Cascade Q3 Profit Dips Despite Higher Sales - Quick Facts

(RTTNews) - Boise Cascade Co. (BCC), producer of engineered wood products and plywood and wholesale distributor of building products, reported a significant fall in third-quarter net income to $15.9 million, or $0.39 per share, from $23.5 million, or $0.79 per share last year.

For the quarter, the firm, however, generated $878.0 million in sales, up 15%, compared with the prior-year figure of $764.6 million.

On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.31, on $839.44 million in revenues for the quarter. Analysts' estimates typically exclude one-time items.

The company reported three-month earnings before interest, taxes, depreciation, and amortization or EBITDA of $39.5 million, a 7% increase from the $36.8 million reported a year back.

For the remainder of 2013, the firm expects to continue to experience demand below 20-year average historical levels for the products we manufacture and distribute. However, the housing industry has shown signs of improvement in the U.S., and the company remains optimistic that the improvement in demand for its products would continue.