Revenue during the quarter grew 4.91 percent to $919.53 million from $876.54 million in the previous year period. Gross margin for the quarter contracted 49 basis points over the previous year period to 11.69 percent. Operating margin for the quarter stood at negative 0.33 percent as compared to a positive 0.88 percent for the previous year period.

Operating loss for the quarter was $3 million, compared with an operating income of $7.70 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $16.53 million compared with $22.08 million in the prior year period. At the same time, adjusted EBITDA margin contracted 72 basis points in the quarter to 1.80 percent from 2.52 percent in the last year period.

"Our distribution business had another strong quarter to close out 2016. Our Wood Products business made progress on a number of fronts, but the financial performance was disappointing. Wood Products continued to struggle with startup issues at the Roxboro, North Carolina, EWP facility and plywood pricing declined 7% from the third quarter. On the positive side, the ramp up of sales related to EWP business wins during 2016 accelerated in the fourth quarter, which was reflected in our strong LVL and I-joist sales volumes. Also, the capital projects at our Chester, South Carolina, plywood operation were successfully completed in December and the mill is running well," commented Tom Corrick, chief executive officer. "I am optimistic that we can continue to successfully grow our distribution operations in the year ahead. We still have work to do on the restart and integration of the Roxboro EWP mill we acquired last year, but capital spending in Wood Products is expected to decline in 2017. The management team is very focused on driving productivity and cost efficiency in manufacturing and improving sales realizations for both EWP and plywood."

The company has spent $298.84 million cash to meet investing activities during the year as against cash outgo of $84.39 million in the last year. It has incurred net capital expenditure of $82.94 million on net basis during the year, down 1.72 percent or $1.45 million from year ago.

Cash flow from financing activities was $66.41 million for the year, up 165.57 percent or $41.41 million, when compared with the last year.

Cash and cash equivalents stood at $103.98 million as on Dec. 31, 2016, down 43.64 percent or $80.52 million from $184.50 million on Dec. 31, 2015.

Working capital declines
Boise Cascade Company has witnessed a decline in the working capital over the last year. It stood at $447.59 million as at Dec. 31, 2016, down 15.05 percent or $79.33 million from $526.92 million on Dec. 31, 2015. Current ratio was at 2.43 as on Dec. 31, 2016, down from 3.04 on Dec. 31, 2015.