Louisiana-Pacific Corp., which owns an idled mill south of Thomasville, said Wednesday that it lost $49 million in the fourth quarter, much better than the $341 million it lost in the same period of 2008, when it took large write-offs.
The Nashville, Tenn., firm lost $121 million for the year, better than the $579 million it lost in 2008.
The firm lost 40 cents per share. Analysts surveyed by Thomson Reuters expected a quarterly loss of 19 cents per share.
Production of oriented strand board, the plywood substitute made by the Thomasville mill, rose 11 percent in the quarter. However, Louisiana-Pacific decided to permanently close OSB mills in Athens, Ga., and Silsbee, Texas, that it had earlier idled.
The company has said it still intends to reopen the 130-worker Clarke County mill, which can make more than 700 million square feet a year of OSB at full capacity.