Boise Cascade Corp. reported $63.5 million in first-quarter net income, a turnaround from the $27.5 million net loss it reported in first-quarter 2003. The company generated $3.53 billion in sales, up from $1.85 billion a year ago. The quarter ended March 31.
In December 2003, Boise Acquired OfficeMax Inc., which substantially expanded its reach and revenue. During the quarter Boise also sold off 79,000 acres of timberland in Louisiana for $59.9 million. Without this one-time sale, the company’s net income would have been $26.9 million.
Among its segments, Boise Office Solutions, Contract Sales generated $1.12 billion in revenue, compared with $938 million a year ago, and reported $34.4 million ion operating income, up from $20.7 million. Its Retail segment reported operating income of $24 million on sales of $1.22 billion, but did not have analogous operations a year ago.
