Temple-Inland Inc. Reports Q4 EPS of $.31 vs. $.27

Temple-Inland Inc. TIN today reported net income in 2010 of $168 million, or $1.52 per diluted share, compared with net income of $206 million, or $1.89 per diluted share, in 2009. Excluding special items, net income in 2010 was $100 million, or $0.90 per diluted share, compared with $78 million, or $0.70 per diluted share, in 2009. Fourth quarter 2010 net income was $27 million, or $0.24 per diluted share, compared with fourth quarter 2009 net income of $38 million, or $0.34 per diluted share, and third quarter 2010 net income of $125 million, or $1.13 per diluted share. Excluding special items, net income in fourth quarter 2010 was $35 million, or $0.31 per diluted share compared with a net loss of $0.07 per diluted share in fourth quarter 2009 and net income of $0.41 per diluted share in third quarter 2010. Fourth quarter 2010 net income and net income excluding special items include an income tax benefit of $0.05 per diluted share primarily related to the expected utilization of state net operating loss carry-forwards previously reserved.