AUSTIN, Texas--(BUSINESS WIRE)--Temple-Inland Inc. (NYSE:TIN - News) today reported a first quarter 2010 net loss of $4 million, or $0.04 per share, compared with fourth quarter 2009 net income of $38 million, or $0.34 per diluted share, and first quarter 2009 net income of $35 million, or $0.33 per diluted share.

First quarter 2010 net loss excluding special items was $1 million, or $0.01 per share, compared with fourth quarter 2009 net loss excluding special items of $7 million, or $0.07 per share, and first quarter 2009 net income excluding special items of $32 million, or $0.30 per diluted share.

Doyle R. Simons, chairman and chief executive officer of Temple-Inland Inc., said, “We executed well in the quarter despite challenging conditions due to the extreme weather and rising input costs. “In Building Products, we improved our operating results compared with fourth quarter 2009 and generated positive EBITDA. Rising lumber prices were partially offset by higher fiber prices in the quarter.

“Looking ahead to the second quarter, we will benefit from improving box demand, higher prices, easing input costs and the box plant transformation in our Corrugated Packaging operation. In Building Products, pricing and demand is improving for all our products, and we anticipate a return to profitability in the second quarter.”

Corrugated Packaging

Corrugated Packaging operating results for first quarter 2010 were $46 million. Earnings declined in first quarter 2010 compared with fourth quarter 2009 as higher input costs more than offset higher box volumes, lower converting costs, and higher box prices. Operating results declined in first quarter 2010 compared with first quarter 2009 as lower box prices and higher input costs more than offset lower converting costs, the benefits of the acquisition of the Newport, Indiana mill and higher box volumes.

Building Products

Building Products operating results improved in first quarter 2010 compared with fourth quarter 2009 due to higher lumber prices and higher gypsum and particleboard volumes. Operating results declined in first quarter 2010 compared with first quarter 2009 as lower gypsum and particleboard prices and lower lumber volumes more than offset higher lumber prices.

Other Special items for first quarter 2010 were a charge of $3 million, or $0.03 per share, after-tax including: (i) a charge of $7 million, or $0.07 per share, related to closing three converting facilities in connection with the second phase of Box Plant Transformation; (ii) a charge of $3 million, or $0.03 per share, due to enactment of the Patient Protection and Affordable Care Act; and (iii) a benefit of $7 million, or $0.07 per share, related to reversing reserves established in connection with alternative fuel mixture tax credits claimed in 2009.

Temple-Inland will host a conference call on April 21, 2010, at 9:30 am ET to discuss results of first quarter 2010. To access the conference call, listeners calling from the United States and Canada should dial 1-866-394-6665 at least 15 minutes prior to the start of the call. The passcode for the conference call is: 68016282. Those wishing to access the call from outside the United States and Canada should dial 1-706-634-1667 and use the same passcode as set forth above. Replays of the call will be available for two weeks following completion of the live call and can be accessed at 1-800-642-1687 in the United States and Canada and at 1-706-645-9291 outside the United States and Canada. The passcode for the replay is: 68016282.

Temple-Inland Inc. is a manufacturing company focused on corrugated packaging and building products. The fully integrated corrugated packaging operation consists of 7 mills and 62 converting facilities. The building products operation manufactures a diverse line of building products for new home construction, commercial and repair and remodeling markets. Temple-Inland's address on the World Wide Web is http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.templeinland.com&esheet=6257599&lan=en_US&anchor=www.templeinland.com&index=1&md5=b4ba691f9ebf7584e0ccb1e5d29717d3.

This release contains “forward-looking statements” within the meaning of the federal securities laws. These statements reflect management’s current views with respect to future events and are subject to risk and uncertainties. We note that a variety of factors and uncertainties could cause our actual results to differ significantly from the results discussed in the forward-looking statements. Factors and uncertainties that might cause such differences include, but are not limited to: general economic, market, or business conditions; the opportunities (or lack thereof) that may be presented to us and that we may pursue; fluctuations in costs and expenses including the costs of raw materials, purchased energy, and freight; changes in interest rates; current conditions in financial markets could adversely affect our ability to finance our operations; demand for new housing; accuracy of accounting assumptions related to impaired assets, pension and postretirement costs, contingency reserves and income taxes; competitive actions by other companies; changes in laws or regulations; our ability to execute certain strategic and business improvement initiatives; the accuracy of certain judgments and estimates concerning the integration of acquired operations; and other factors, many of which are beyond our control. Except as required by law, we expressly disclaim any obligation to publically revise any forward-looking statements contained in this report to reflect the occurrence of events after the date of this report.

This release includes non-GAAP financial measures. The required reconciliations to GAAP financial measures are included in this release.