Sales jump during Q1 at Builders FirstSource
Dallas-based pro dealer Builders FirstSource reported sales of $219.4 million for the first quarter of 2012, an increase of 34.7% compared with the same quarter of 2011. The increase was primarily due to increased sales volume as commodity prices for lumber and lumber sheet goods were, on average, comparable over these same periods, according to the company.
Net loss for the first quarter, which ended March 31, 2012, was $19.2 million, compared with a net loss of $21.2 million in the corresponding quarter a year ago.
“This marks our third consecutive quarter with year-over-year sales growth greater than 20%,” said Builders FirstSource CEO Floyd Sherman. “Our sales growth continues to outpace construction activity as actual U.S. single-family housing starts. Commodity lumber prices for the current quarter were, on average, relatively consistent with those during the first quarter of 2011. When combined, these factors indicate we continue to achieve significant market share gains.”
“We are very encouraged by our first-quarter results and expect the momentum we have gained to continue to reflect positively on our 2012 financial results,” Sherman continued. “We remain optimistic about the long-term health of our industry and our ability to position the company to take advantage of further improvements in housing. The recently announced opening of our Jarrell, Texas, distribution facility and our entry into the greater Austin market is a perfect example of our optimism and positioning of the company for continued growth.”
Builders FirstSource operates 52 distribution centers and 44 manufacturing facilities in nine states, principally in the southern and eastern United States.