(RTTNews) - Tuesday, Louisiana-Pacific Corp. (LPX: News ) a building products supplier, posted a narrowed loss for the third quarter, backed by lower costs, notwithstanding a 21% decline in revenue

The Nashville, Tennessee-based company reported a third-quarter net loss attributable to the company of $12.5 million or $0.12 per share, compared to a loss of $111.1 million or $1.08 per share in the same quarter last year.

For the quarter, the company reported a loss from continuing operations of $12.7 million or $0.12 per share, compared to a loss from continuing operations of $100.4 million or $0.98 per share in the year ago quarter.

Excluding items, loss from continuing operations for the quarter was $14.2 million or $0.14 per share, compared to loss of $39.0 million or $0.38 per share in the prior year quarter. Loss from continuing operations excluded loss on sale or impairment of long-lived assets and other operating credits and charges, net, gain on early debt extinguishment and other than temporary investment impairment.

On average, 16 analysts polled by Thomson Reuters expected the company to report a loss of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.

Total sales for the quarter was $308.8 million, down 21% from $389.6 million in the comparable quarter last year. The decline in net sales was primarily due to the dramatically reduced U.S. housing starts, which dropped 31% from the prior year levels, as weakness in home building continued. Analysts expected the company to report revenue of $304.09 million for the quarter.
Cost of sales for the quarter was $271.4 million, down from $382.2 million in the previous year quarter. Total operating costs and expenses declined to $316.9 million from $457.2 million in the year ago quarter. Loss from operations was $8.1 million, compared to loss from operations of $67.6 million last year.

For the nine-month period, net loss attributable to the company was $72.3 million or $0.70 per share, compared to a loss of $238.3 million or $2.32 per share in the year ago period. Loss from continuing operations narrowed to $70.2 million or $0.67 per share, from loss of $225.7 million or $2.19 per share a year-ago. Excluding items, loss from continuing operations for the period was $75.1 million or $0.73 per share, compared to a loss of $122.5 million or $1.19 per share in the prior year period.

Net sales for the nine-month period was $779.8 million, down from $1.13 billion in the same period last year.

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