Please wait while we load the requested 10-K report or click the link below:
FOR IMMEDIATE RELEASE
CONTACT: Chris L. Nines
REPORTS FOURTH QUARTER AND
FULL YEAR 2004 RESULTS
AUSTIN, TEXAS, February 7, 2005 Temple-Inland Inc. today reported fourth quarter 2004 net income of $55 million, or $0.97 per diluted share, compared with a fourth quarter 2003 net loss of $39 million, or $0.71 per diluted share, and third quarter 2004 net income of $41 million, or $0.73 per diluted share.
Results for fourth quarter 2004 include (i) an after-tax charge of $8 million, or $0.14 per share, for asset write-downs, severance, and costs related to the repositioning of mortgage origination activities and the sale of the third-party mortgage servicing portfolio, (ii) an after-tax charge of $7 million, or $0.12 per share, primarily associated with converting facility closures and Project TIP consolidation and supply-chain initiatives, and (iii) a one-time tax benefit of $20 million, or $0.34 per share, resulting from the conclusion of an IRS examination of tax returns for the years 1997-2000 and resolution of several state tax returns. As reflected in the table below, net income per diluted share, excluding special items, for fourth quarter 2004 is $0.89 per share.
|Fourth Quarter||Third Quarter|
Net income per dil. share as reported
The following information was filed by Temple Inland Inc (TIN) on Monday, February 7, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one year to another to evaluate Temple Inland Inc's financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Temple Inland Inc.