Louisiana-Pacific Posts Lower Earnings

Louisiana-Pacific Corp. earnings plunged almost 50 percent in the second quarter, mostly due to diminishing demand for building products, the company said Thursday.

The Portland-based wood products company earned $42.2 million, or 40 cents a share, for the quarter ended June 30, compared with $81.9 million, or 75 cents a share, a year ago.

On the New York Stock Exchange Thursday, Louisiana-Pacific shares closed down 37-1/2 cents at 27.37-1/2.

A slowdown in the home-building market brought down profits in the second quarter, the company said.