BFS announces preliminary results
Builders FirstSource, the Dallas-based pro dealer, has announced preliminary results for its fourth fiscal quarter of 2007. The company expects to report a net loss, which includes non-cash charges of $11 million and cash charges of $2.1 million. Revenues for the quarter, which ended on Dec. 31, 2007, are estimated to be approximately $300 million.
The company expects to announce a positive cash flow of $11 million to $13 million for the fourth quarter. Builders FirstSource entered into a new $350 million credit facility during the quarter, which lowered the company’s borrowing costs and eliminated certain loan covenants. As of Dec. 31, 2007, the company had approximately $120 million available under this facility.
“Our liquidity remains strong with over $220 million in combined cash and availability on our credit facility,” said Floyd Sherman, CEO of Builders FirstSource. “We believe we are well positioned for the continued challenging operating environment and for opportunities to grow the company.”