Crown Pacific Reports Flat Earnings

Thu., July 23, 1998

From Staff

Challenging market conditions contributed to flat second-quarter earnings at Crown Pacific Partners, company officials said.

Second-quarter net income was $7.5 million, or 27 cents per unit, compared with net income of $7.4 million during the same period last year.

Though the forest products company has “no direct exposure to Asian markets,” Asia’s financial crisis continues to contribute to oversupply and weak prices in the domestic market, said Crown Pacific President Peter Stott.

The company will continue to focus on cost-cutting and efficiency, he said, including the development of two high-technology mills. One of the new mills is located in Bonners Ferry, Idaho.

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Crown Pacific Reports Flat Earnings

Jesse Tinsley

Jim Meehan

Molly Quinn

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