Sales grow at Beacon Roofing
Beacon Roofing Supply, one of the nation’s largest distributors of roofing, siding and other exterior building products, reported sales of $296.3 million in the second fiscal quarter of 2011, a 3.8% rise from sales of $285.4 million in 2010. Existing market (organic) sales, which exclude seven branches acquired subsequent to the beginning of last year's second quarter, increased 0.2%.
Residential roofing sales decreased 11.1%. Residential roofing sales continued to be especially weak in markets affected by storms in 2009 and were also affected by continued historically low levels of new home construction.
The net loss for the second quarter, which ended March 31, was $6.2 million, compared with $6.5 million in 2010, an improvement of 4.3%.
For the first half of the fiscal year, total sales increased 7.4% to $701.1 million in 2011 from $653.1 million in 2010, while existing market (organic) sales increased 3.8%. Existing market results exclude eight branches acquired subsequent to the start of fiscal year 2010.
Net income for the first half was $3.9 million compared with $1.4 million in 2010, an improvement of 183%.
Headquartered in Peabody, Mass., Beacon Roofing Supply operates 179 branches in 37 states in the United States and in three provinces in Eastern Canada.