Temple-Inland, the Austin, Texas-based manufacturer, reported $17 million of EBITDA in 2009 for it's building products division, an 88% increase from EBITDA of $9 million in 2008. Temple-Inland attributed the improvement to "lower costs." A decline in the division's operating income was attributed to lower shipments and prices for all products.
"Our improvement in 2009 was due to our structural cost reduction initiatives, favorable geographic footprint, and mix of products," Doyle Simmons, chairman and CEO of Temple-Inland, said in a prepared statement.
"We remain focused on generating cash and returning profitability to the business," Doyle added.
Building products reported total 2009 sales of $576 million, down 17% from total 2008 sales of $694 million. For the fourth quarter, sales fell nearly 16% to $130 million from $154 million the fourth quarter 2008.
Overall, the Austin, Texas-based company posted a full year 2009 net income of $206 million, compared to a net loss of $8 million in 2008. For the fourth quarter the company posted a net income of $38 million, compared to a net loss of $6 million in the fourth quarter 2008.
Total 2009 revenues for the company, which also produces corrugated packaging, fell about 8% to $3.57 billion while fourth quarter sales fell 13% to $845 million.
