BlueLinx shows modest revenue growth
Fourth-quarter revenues at BlueLinx Holdings increased 0.5% to $367.9 million from $366.1 million for the same period a year ago.
The increase reflects a 7.4% increase in specialty product sales and a 9.5% decrease in structural product sales. Still, the company swung to a fourth-quarter loss of $20.2 million, compared with net income of $12.0 million in last year’s fourth quarter.
"BlueLinx’s fourth-quarter operational performance was impacted by the continuing difficult conditions of the housing and construction markets, as the recovery slowed down and we experienced the normal seasonal slowdown associated with our fourth quarter," said BlueLinx president and CEO George Judd. "In the face of this challenging operating environment, our financial results demonstrate modest revenue growth, strong gross margin performance and diligent cost management. We generated approximately $18 million in cash from operations during the quarter."
Overall unit volume declined 4.3%, with a 5.9% increase in specialty unit volume being offset by a 16.5% decline in structural unit volume.
For the full year ended Jan. 1, the Atlanta-based building products distributor posted net sales of $1.804 billion, up 9.6% from 2009. The company’s full-year loss narrowed to $53.2 million, compared with a loss of $61.5 million a year ago.
"While this difficult economic period continues, we remain focused on the strategic initiatives that will build a stronger, more profitable company. During the quarter we grew specialty revenue, a key strategic focus for BlueLinx, to 59% of our total revenues driven by a 5.9% increase in specialty unit volume," Judd added.
Northeastern Young Lumber Execs elects officers
Mike Yazwinski of Russin Lumber is incoming president of the Northeastern Young Lumber Execs — elected during the Northeastern Retail Lumber Association’s 2011 LBM Expo.
Other members of the incoming executive committee of the NYLE are:
• Jen Quinlan- Treasurer- Litman Gerson Associates;
• Jordan Russin- Secretary, Russin Lumber;
• Kevin Keillor Jr.- Ex-Officio, Thurber Lumber;
• Mike Miller- 1st VP, One Tree Distribution;
• Rob Bicknell- 2nd VP, Bicknell Building Supply; and
• Dan Martin- 3rd VP, Reeb Millwork.
The Northeastern Young Lumber Execs is an association founded in 1986 and is supported by the NRLA. The two requirements for membership are that the member be 40 years of age or younger, and their company be a member in good standing of the NRLA.
CertainTeed expands Sustainable Insulation
Valley Forge, Pa.-based CertainTeed Corp. is expanding its Sustainable Insulation fiberglass insulation technology to new categories of product, including SoftTouch, Duct Wrap, Commercial Blanket Insulation and Metal Building Insulation. Available to customers in the Western United States, all of the products are engineered, produced and shipped with the commitment to minimizing environmental impact and improving energy savings, the company said.
Designed to exceed the California Air Resource Board (CARB) indoor air quality regulations, Sustainable Insulation products are manufactured with recycled and renewable content including a plant-based, formaldehyde-free binder and contain no harsh acrylics, dyes or unnecessary fire-retardant chemicals. The products are manufactured at the company’s Chowchilla, Calif., plant.
Said Mike Lembo, senior product manager for CertainTeed’s Mechanical and Industrial Insulation Group: “Our customers now have a wider range of product options that meet stringent indoor air quality and environmental requirements, while providing superior thermal performance, acoustic control and long-lasting comfort to building occupants.”