Huttig sees sales growth in 2012
St. Louis-based Huttig Building Products reported sales of $520.5 million in the full year ended Dec. 31, up 8.7% from $478.7 million in 2011.
It was the company’s best year of sales since 2008, when the two-step distributor had sales of $671.0 million.
The company also narrowed its net loss from continuing operations to $100,000, compared with a net loss of $12.7 million in 2011.
“The increase in building product sales was partially offset by the decrease in our roofing business, which is partially storm driven,” the company reported in its annual report.
Gross margins improved to 19.2%, up from 18.5% in 2011.”The higher margin percentage in 2012 reflects changes in the product mix coupled with a concerted effort to increase margins. In 2012 and 2011, gross margins continued to be negatively impacted by competitive pricing pressure in the down housing market,” the company said.
For the fourth quarter, sales were $125.4 million, up from $113.1 million in the fourth quarter last year. Net loss was $130,000, unchanged from the previous year’s quarter.