BlueLinx reports Q1 revenues up 10.9%
Atlanta-based BlueLinx Holdings reported revenues of $503.2 million for the first quarter ended March 30 -- that’s a 10.9% increase from $453.7 million in the same quarter last year.
Despite the double-digit gain, BlueLinx posted a wider net loss of $12.6 million in the quarter, compared with a loss of $11.0 million in last year’s second quarter.
Gross margins were 11.2% compared with 12.0% a year ago.
"While our business is off to a good start in several parts of the country, our specialty sales declined in two of our largest regions, both of which greatly benefited from last year's early spring,” said George Judd, president and CEO. “Wood-based structural product prices have risen significantly, and we experienced increased demand in regions with less severe winters. We believe that the sustained growth in both housing starts and permits will continue, which will in turn drive growth in other areas, such as repair and remodeling. BlueLinx is well positioned to grow in all regions as we move into the spring."