Losses narrow at BlueLinx
Building products distributor BlueLinx reported a net loss of $12.3 million for its first fiscal quarter, which ended April 2, compared with a net loss of $14.7 million in the same quarter a year ago.
Revenues were $390.6 million, a 9.4% drop from sales of $431.1 million in the first period of 2010. The company said this reflected a 20.8% drop in structural product sales associated with the softness in the housing market and a slight sales increase in specialty products. Overall unit volume declined 11.8% compared with the year-ago period, primarily as a result of a 25.2% decline in structural unit volume.
"We continued to manage through a very difficult housing market in the first quarter," said CEO George Judd. "Our results were impacted by a housing market that contracted by almost 10%, an extremely long and severe winter, and a very competitive structural products market.”
Headquartered in Atlanta, BlueLinx operates a distribution network that includes more than 750 suppliers and 60 distribution centers to serve approximately 11,500 customers nationwide, including dealers, industrial manufacturers, manufactured housing producers and home improvement retailers.