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LOUISIANA-PACIFIC REPORTS STRONG SECOND-QUARTER RESULTS

 LOUISIANA-PACIFIC REPORTS STRONG SECOND-QUARTER RESULTS
 PORTLAND, Ore., July 14 /PRNewswire/ -- Louisiana-Pacific Corp. (L-P) (NYSE: LPX) today reported second-quarter results that were well above year-ago and first-quarter levels.
 The company earned $44.1 million in the second quarter, up 51 percent from the $29.2 million earned in the second quarter of 1991. Sales of $539.1 million in the second quarter represent a 11.2-percent increase from 1991 second quarter sales of $485.0 million. On a per-share basis, the company earned 81 cents a share in the second quarter of 1992 compared to 54 cents a share in the comparable quarter last year. Both per-share figures reflect a three-for-two stock split paid by L-P in June of this year.
 Included in the second quarter was a net charge of $4 million, or 7 cents a share, representing a fine imposed on the company in an 11-year-old Federal Trade Commission action. The fine was set aside in 1985 as the result of an L-P appeal, then reassessed in 1990 after much court wrangling. L-P again appealed, but the courts upheld the fine in late June of this year.
 "We benefitted from strong markets for our construction panels and recovery of our Southern mills where production had been sharply curtailed by unusually heavy rains during the first quarter" said Harry A. Merlo, Louisiana-Pacific's chairman and president. "On the other hand, prices of some of our lumber products fell from first quarter highs and the pulp market -- which typically accounts for 10-15 percent of L-P's revenues -- remained very weak and turned in a modest loss."
 Merlo said that products aimed at the do-it-yourself and home- improvement markets turned in the best results in the second quarter.
 "We're hopeful that new home construction will show solid improvement this year, but so far homebuyers seem to be waiting for clearer signs of a healthy economy," Merlo said. "If consumer confidence improves, today's low interest rates could send buyers back into the new home market."
 In the first six months of 1992 Louisiana-Pacific earned $80.1 million on sales of $1.0 billion. This compares with 1991 first-half earnings of $20.6 million on sales of $847.4 million. On a per-share basis, the company earned $1.48 in the first half of this year compared to 38 cents in the same period last year.
 Louisiana-Pacific is a major building products company known for its innovation in developing high-performance, affordable, environmentally sound construction materials.
 LOUISIANA-PACIFIC CORP.
 (Dollar amounts in millions except per share)
 Percent
 Quarter Ended June 30: 1992 1991 Change
 Net sales $539.1 $485.0 +11.2
 Income before taxes 69.6 44.2
 Net income 44.1 29.2 +51.0
 Net income per share .81 .54
 Average shares outstanding 54.1 53.9
 Percent
 Six Months Ended June 30: 1992 1991 Change
 Net sales $1,014.6 $847.4 +19.7
 Income before taxes 126.3 31.2
 Net income 80.1 20.6 +288.8
 Net income per share 1.48 .38
 Average shares outstanding 54.1 53.9
 SALES BY QUARTER
 (In millions)
 1st 2nd 3rd 4th Year
 1991 $362.4 $485.0 $449.5 $405.2 $1,702.1
 1992 475.5 539.1
 EARNINGS BY QUARTER
 (In millions)
 1st 2nd 3rd 4th Year
 1991 $ (8.6) $ 29.2 $ 26.5 $ 8.8 $ 55.9
 1992 36.0 44.1
 EARNINGS PER SHARE BY QUARTER
 1st 2nd 3rd 4th Year
 1991 $ (.16) $ .54 $ .49 $ .16 $ 1.03
 1992 .67 .81
 -0- 7/14/92 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


LM -- SE005 -- 8947 07/14/92 08:55 EDT
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Date:Jul 14, 1992
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