BlueLinx posts increase in Q1 revenue
Atlanta-based BlueLinx Holdings posted a net loss of $11.0 million for the first quarter ended March 31, compared with a net loss of $12.3 million in the first quarter of 2011.
The building products distributor reported first-quarter revenue of $453.7 million, up 16.2% from $390.6 million in the same period a year ago. The increase in revenue is attributable to increased unit volumes and increased underlying product prices for both product categories.
"We are very pleased by the sales growth in the first quarter and encouraged by signs of strengthening economic activity and improving industry trends," said George Judd, president and CEO.
"The company narrowed its first-quarter comparable adjusted pretax loss to $11.4 million from $21.4 million in the year-ago period. Our improved first-quarter results demonstrated our ability to grow revenue while keeping adjusted operating expenses flat and expanding margins. Looking forward, the positive sales momentum experienced in the first quarter has continued into April."