Louisiana-Pacific Corp (LPX) Tweaks FY11 Results Due to New Information
Tweet
Share
E-mailGet Alerts LPX Hot Sheet
Price: $73.18 -0.77%
Financial Fact:
Income (loss) from continuing operations, net of tax: 65.6M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Income (loss) from continuing operations, net of tax: 65.6M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Louisiana-Pacific Corporation (NYSE: LPX) reported today that it has adjusted its 2011 results to reflect a non-cash impairment charge related to its investment in its U.S. Greenfiber joint venture due to information received after the release of earnings.
On Feb. 24, 2012, LP was notified that the valuation of this joint venture had decreased significantly based upon work being performed as part of Greenfiber’s annual audit. As a result of this, LP has adjusted its 2011 losses, which were previously reported in a press release dated Feb. 7, 2012.
After adjustment, LP’s 2011 net loss was $181.3 million, or $1.36 per diluted share (as compared to the previously reported net loss $170.7 million, or $1.28 per diluted share). The adjusted amounts will be reflected in the financial statements included in LP’s Annual Report on Form 10-K, which is to be filed on or before Feb. 29, 2012.
On Feb. 24, 2012, LP was notified that the valuation of this joint venture had decreased significantly based upon work being performed as part of Greenfiber’s annual audit. As a result of this, LP has adjusted its 2011 losses, which were previously reported in a press release dated Feb. 7, 2012.
After adjustment, LP’s 2011 net loss was $181.3 million, or $1.36 per diluted share (as compared to the previously reported net loss $170.7 million, or $1.28 per diluted share). The adjusted amounts will be reflected in the financial statements included in LP’s Annual Report on Form 10-K, which is to be filed on or before Feb. 29, 2012.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Advance Auto Parts (AAP) PT Lowered to $43 at Truist Securities
- DA Davidson Reiterates Buy Rating on Box, Inc. (BOX) on Secular Tailwinds for Demand
Create E-mail Alert Related Categories
EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
