logo
Share SHARE
FONT-SIZE Plus   Neg

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

Louisiana-Pacific Corporation (LPX) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Low-cost airline Allegiant Air announced its order for brand-new aircraft for the first time in its history. The carrier announced on Friday it had reached a deal to purchase 12 current-generation models of Airbus' A320 narrow-body jets. The company termed the deal as "another step towards Allegiant's... Los Angeles City officials have filed criminal charges against Soylent CEO Robert Rhinehart for placing a bright red shipping container on Montecito Heights hillside as part of his "experiment in sustainable living." City Attorney Mike Feuer Friday announced that his office has filed multiple criminal... A new study says that if Hillary Clinton is elected then her proposals will strengthen the U.S. economy and create millions of jobs. According to Moody's Analytics, Hillary Clinton's economic proposal would oversee a "somewhat stronger U.S. economy." The conclusion was reached after assessing her...
comments powered by Disqus
Follow RTT