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Boise 3Q falls
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October 15, 2001: 12:15 p.m. ET
A slumping paper business hurts the forest-products maker's earnings.
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NEW YORK (CNNmoney) - Forest-products maker Boise Cascade Corp. reported third-quarter earnings Monday that fell sharply from a year ago, hurt by sagging income at its paper and office products businesses.
The Boise, Idaho-based company reported earnings in the quarter ending Sept. 30 of $12.2 million before one-time items, or 16 cents a share, compared with $27.4 million, or 40 cents a share, a year ago. Wall Street analysts surveyed by earnings tracker First Call expected Boise to earn 16 cents a share.
"Year-over-year income increased in our building products segment," CEO George J. Harad said. "However, the positive results were offset by a modest decline in income from our office products distribution business and a more significant decline in income from our paper business, which reflects weak markets and higher energy costs."'
Third-quarter sales fell to $1.9 billion from $2 billion a year ago.
Boise (BCC: down $0.39 to $29.52, Research, Estimates) shares fell in midday trading Monday. 
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