Temple-Inland Inc., the building products and corrugated packaging manufacturer, reported a third quarter 2009 net income of $66 million compared to a net income of $3 during the same period a year ago.
Despite income gains, building product sales still remain challenging for the gypsum, lumber, and particleboard producer. The Austin, Texas-based company's building products division reported revenue of $151 million for the quarter, down nearly 16% from revenue of $179 million in the third quarter 2008.
The building products division also reported an operating income loss of $4 million for the period, up from a loss of $6 million in the third quarter last year.
Operating results in building products improved in the third quarter 2009 compared with third quarter 2008 due to lower costs in all products and higher gypsum volumes offsetting lower prices for all products and lower volumes for lumber and particleboard.
"In Building Products, markets remain difficult," Doyle Simons, chairman and CEO, said in a prepared statement.
Simons also said the division generated $7 million of EBITDA in the quarter and continues "to benefit from our low cost structure, geographic footprint, and favorable mix of products."