Boise Cascade delivers growth as expected

Boise Cascade Company pulled through with measurable progress during the first quarter, which CEO Tom Corrick said was in line with the company's expectations.

"First quarter activity was consistent with our seasonal expectations for our manufacturing and distribution businesses, and both segments delivered solid revenue growth during the quarter," he said.

Net sales for the quarter ended March 31 were $809.9 million, up 5.6% from the year-ago quarter's sales of $767.2 million.

Net income came in at $7.6 million, delivering a solid chunk of growth from the previous year's $5.6 million.

"Wood Products' sales and earnings benefited from strong plywood pricing in the quarter, as well as continued volume growth and improved pricing for our engineered wood products," added Corrick. "BMD's gross margins faced the headwinds of a declining price environment for dimension lumber products during the quarter. Forecasts for 2015 reflect further growth in U.S. housing starts, and we remain confident in our ability to take advantage of market opportunities."

Boise Cascade pointed to steady improvement in the housing market as an indication that demand will continue improving for its products, though some of its facilities may operate below capacity in the meantime.