Boise Cascade Co. said Friday that sales reached $3.27 billion in 2013, with double-digit increases in each of its two divisions, wood products and building materials. Net income was $116.7 million.
Comparable sales and profits for 2012 were not reported. The company didn't go public until early 2013.
For the fourth quarter, sales were $798 million, 15 percent above the same quarter in 2012, the company said. Net income was $9.8 million, or 25 cents per share.
The company said it benefited from a 19 percent rise in U.S. housing starts, with single-family starts up 16 percent. A new consensus forecast projects 1.1 million total starts this year, up 20 percent from 2013. But housing still remains below the 20-year average of 1.4 million starts a year.
We are pleased by our accomplishments in 2013," CEO Tom Carlile said. "Our manufacturing business continued to execute well, capturing the benefit of higher prices and increased engineered wood products sales volumes."
Two plywood plants the company bought last fall in South Carolina and North Carolina are providing "incremental volume and earnings consistent with our expectations," he said.
Boise Cascade says it employed 5,274 workers as of Jan. 31, including 160 at its headquarters at 11th and Jefferson streets in Boise and 161 at building material distribution yards in Boise and Idaho Falls and a laminated-beam plant outside of Nampa.
Boise Cascade Corp. was publicly held until 2004. After a series of sales and transactions over the next nine years, the surviving portions of the corporation's former wood-products and building materials divisions re-emerged under public ownership a year ago with the creation of Boise Cascade Co.