BMHC sales down 24 percent
Building Materials Holding Corp. (BMHC) has reported $618 million in third-quarter sales, a drop of 24 percent from $818 million in the same quarter last year. The industry’s fourth largest pro dealer posted $4.2 million in net income from the third quarter, which ended on Sept. 30. This compares to $35.3 million in the third quarter of 2006.
Income from discontinued operations included a gain of $3.1 million from the sale of three BMC West yards in Colorado in September 2007.
During the first nine months of the 2007 fiscal year, sales at BMHC decreased 28 percent to $1.9 billion from $2.6 billion in the same period of 2006. Net income for the nine-month period dropped from $97.6 million in 2006 to $18.6 million in 2007.
BMC West, the company’s distribution arm, posted sales of $319.7 million, a decrease of 16 percent from $379.7 million in the same quarter of 2006. Income dropped 34 percent, from $31.4 million last year to $20.6 million this year.
SelectBuild, BMHC’s construction services division, showed a 32 percent slide in sales during the past quarter, to $299 million from $438 million in the third quarter of 2006.