Boise Cascade income multiplies in Q4
Boise Cascade did well for itself in the fourth quarter of 2013, with sales and income both benefiting from robust year-end growth.
Net sales for the three months ended Dec. 31, 2013, were $798.3 million, up from $694.6 in the fourth quarter of 2012. Income for the quarter came in at $9.8 million, a considerable improvement from 2012's $1.2 million take-home total.
For the full year, sales were up 17.8% at $3.27 billion; income was up 182% at $116.9 million.
"We are pleased by our accomplishments in 2013," said CEO Tom Carlile. "Our manufacturing business continued to execute well, capturing the benefit of higher prices and increased engineered wood products sales volumes. In addition, the two plywood plants we acquired at the end of the third quarter have been successfully integrated and provided incremental volume and earnings consistent with our expectations. Our distribution business managed its way through the volatile commodity pricing in the first half of the year and had a solid second half of the year providing positive cost leverage on the 2013 sales growth. The operational achievements and acquisition, along with our initial public offering in February, made for an exciting 2013."
The Wood Products segment experienced the greatest sales growth at 31% for the quarter. Building Materials Distribution received an 11% boost in sales.
"In 2014, we look forward to taking further advantage of improvements in construction activity, growing the company, and executing on the strategic initiatives of our existing operations," added Carlile.