BlueLinx Q4 financial report offers a mixed bag
Building products distributor BlueLinx reported sales gains for the fourth quarter and full year, but still finished in the red.
For the quarter, sales increased 10.4% to $486.3 million. The company narrowed its fourth quarter net loss to $2.5 million, compared to a net loss of $11.4 million in the same quarter last year.
"Our operating performance for the fourth quarter of 2013 represents an improvement in net sales reflecting continued market recovery while our Adjusted EBITDA improved over 2012 levels," said president and CEO Mitch Lewis. "We are gaining traction on the previously announced restructuring efforts that were completed in 2013. Our organization is intently focused on improving our gross margins and operating more efficiently to facilitate leveraging our incremental volume to enhance our financial performance."
For the full year, sales improved 12.8% to $2.15 billion. However, the company’s net loss increased to $40.6 million, nearly twice that of 2012.
Lewis said he agreed with the consensus forecast of total housing starts to increase in 2014 to about 1.1 million. He also said the company expects residential repair and remodeling activity to grow at a pace of 4% to 5%.
Osmose gets patent for Micronized color system
Griffin, Ga.-based Osmose, Inc. now has a patent on its MicroShades micronized color technology for treated wood products.
The company said the patent (no. 8,603,576 B2) was issued by the U.S. Patent and Trademark Office in December.
“This new Osmose patent involves a method using micronized iron oxide color pigments for treating wood,” the company said. It complements other patents owned by Osmos.
MicroShades, described as innovative micronized pigment technology, offers consumers treated wood with natural colors similar to redwood and cedar. The MicroShades color technology was formally introduced in the U.S. in 2008 and is specifically formulated for use with a variety of Osmose wood preservative systems including MicroPro.
Denise Merle named SVP HR at Weyerhaeuser
Denise Merle has been tapped to fill the role of SVP human resources at Weyerhaeuser, effective Feb. 28.
“Denise brings strong business acumen and tremendous people leadership skills to this role and I look forward to the contributions she will make on our journey to become truly great,” says Doyle Simons, president and CEO. “I want to thank John for his leadership and counsel, and I wish him all the best in his new role.”
Merle has been with Weyerhaeuser since 1981, having held various roles in its paper and packaging business as well as several directorships (of Internal Audit, Compliance & Enterprise Planning, and most recently, Finance and Human Resources for the Lumber business). She is a licensed CPA in the state of Washington.
Merle replaces John Hooper, who is leaving to pursue an opportunity with StanCorp Financial Group in his hometown of Portland, Ore.