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LOUISIANA-PACIFIC REPORTS HIGHER FOURTH-QUARTER EARNINGS

 LOUISIANA-PACIFIC REPORTS HIGHER FOURTH-QUARTER EARNINGS
 PORTLAND, Ore., Jan. 27 /PRNewswire/ -- Louisiana-Pacific Corp. (L-P) (NYSE: LPX) today reported significantly improved fourth-quarter performance in 1991. Fourth-quarter earnings were $8.8 million, or 24 cents a share, compared to a fourth-quarter loss in 1990 of $3.9 million, or 11 cents a share. Sales in the fourth quarter were $405.2 million, up 10 percent from 1990 fourth-quarter sales of $366.1 million.
 For the full year, both sales and earnings were lower than 1990 levels. The company earned $55.9 million in 1991 on sales of $1.7 billion. This compares with 1990 earnings of $91.1 million and sales of $1.8 billion. On a per-share basis, the company earned $1.55 in 1991, compared to $2.46 a year earlier.
 "Given the low levels of construction, the depressed market for pulp, and the losses reported recently by some competitors, we're reasonably pleased with our 1991 performance," said Harry A. Merlo, L-P's chairman and president. "The results this year demonstrate that even modest improvements in demand in 1992 should translate into significant performance gains for us."
 Merlo said that increases in many building products prices during the past several weeks point up the legitimate concern on the part of building material dealers that constraints on timber harvesting will limit supply in 1992.
 "We're fortunate that so many of the products we produce are made from noncontroversial timber sources that are not subject to the growing restrictions on harvesting," Merlo said.
 Merlo said that there was also widespread anticipation of improvements in the worldwide pulp market during 1992 from the dismal levels of 1991. L-P's pulp segment historically has accounted for about 15 percent of the company's revenues.
 Louisiana-Pacific is a major forest products company known for developing innovative building materials.
 LOUISIANA-PACIFIC CORP.
 (Unaudited, dollar amounts in millions except per share)
 Quarter Percent
 Ended Dec. 31: 1991 1990 Change
 Net sales $ 405.2 $ 366.1 +10.7
 Income before taxes 13.8 (5.9)
 Net income 8.8 (3.9)
 Net income per share 0.24 (0.11)
 Average shares outstanding (millions) 36.0 37.0
 Year Percent
 Ended Dec. 31: 1991 1990 Change
 Net sales $1,702.1 $1,793.3 -5.1
 Income before taxes 87.4 137.0
 Net income 55.9 91.1 -38.6
 Net income per share 1.55 2.46
 Average shares outstanding (millions) 36.0 37.0
 SALES BY QUARTER
 (In Millions)
 1st 2nd 3rd 4th Year
 1990 $474.8 $501.5 $450.9 $366.1 $1,793.3
 1991 362.4 485.0 449.5 405.2 1,702.1
 EARNINGS BY QUARTER
 (In Millions)
 1st 2nd 3rd 4th Year
 1990 $ 35.8 $ 38.0 $ 21.2 $ (3.9) $ 91.1
 1991 (8.6) 29.2 26.5 8.8 55.9
 EARNINGS PER SHARE BY QUARTER
 1st 2nd 3rd 4th Year
 1990 $ 0.97 $ 1.03 $ 0.57 $(0.11) $ 2.46
 1991 (0.24) 0.81 0.74 0.24 1.55
 -0- 1/27/92 P
 /CONTACT: Barry Lacter of Louisiana-Pacific, 503-221-0800 or 503-796-0208 or, home, 503-657-5790/
 (LPX) CO: Louisiana-Pacific Corp. ST: Oregon IN: PAP SU: ERN


SC -- SE001 -- 3556 01/27/92 09:07 EST
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Publication:PR Newswire
Date:Jan 27, 1992
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