Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Louisiana Pacific Adjusts Its 2011 Results To Reflect Non-cash Impairment Charge

RELATED NEWS
Trade LPX now with 

Louisiana-Pacific Corporation (LPX: Quote) Monday announced 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.

The company stated that it had to adjust its 2011 results after having received a notification that the valuation of this joint venture had decreased significantly based upon work being performed as part of Greenfiber's annual audit.

The company revealed that the net loss for the year will be $181.30 million, or $1.36 per diluted share, after the adjustment, wider than a net loss of $170.7 million, or $1.28 per diluted share, reported previously.

The company stated that 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.

Click here to receive FREE breaking news email alerts for Louisiana Pacific and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After moving modestly higher in morning trading, stocks showed a substantial move to the downside over the course of the trading day on Wednesday. The major averages pulled back well off their highs for the session, sliding firmly into negative territory. Ebola "czar" Ron Kain is scheduled to meet with President Barack Obama on Wednesday as he begins his efforts to coordinate the government's response to the deadly disease. Klain, who previously served as chief of staff to Vice President Joe Biden and then-Vice President Al Gore, was named as Ebola Response Coordinator last Friday. Potentially complicating the outlook for control of the Senate, the results of a SurveyUSA poll conducted for WXIA-TV in Atlanta suggest that the Georgia Senate race between Republican David Perdue and Democrat Michelle Nunn could be headed for a runoff.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.