Norbord shows big profit jump in final quarter of 2012 as U.S. builders rev up

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TORONTO - Norbord Inc. (TSX:NBD) says it earned $72 million in 2012, more than half of it in the fourth quarter.

The wood panel manufacturer's net income in the three months ended Dec. 31 was US$38 million — beating analyst estimates by about $1 million.

The profit amounted to 86 cents US per basic share or 76 cents per share on a diluted basis.

Analysts had been looking for profit of 70 cents per share, or $37 million in total, according to estimates compiled by Thomson Reuters.

A year earlier, Toronto-based Norbord lost US$9 million in the fourth quarter and $11 million for the full financial year ended Dec. 31, 2011.

Norbord is among the companies that has benefited from a revival in U.S. house construction after a prolonged slump that contributed to the 2008-9 recession..

Organizations: Norbord Inc., TSX, U.S. house

Geographic location: U.S., TORONTO

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