BlueLinx swings to profit
BlueLinx Holdings, a leading distributor of building products in North America, reported revenues of $496.8 million for their third fiscal quarter, a 5.1% increase over revenues of $472.9 million for the same quarter a year ago.
Net income for the third quarter, which ended Sept. 29, was $3.1 million, compared with a net loss of $6.2 million in the same quarter of 2011.
In a prepared statement, George Judd, president and CEO of BlueLinx, said: “Looking forward, we have increased optimism that our business will continue to improve as general economic factors and leading indicators for our business point to improving market conditions and we continue to execute our strategy.”
For the nine months ended Sept. 29, net loss for the Atlanta-based distributor totaled $11.7 million, compared with a loss of $28.3 million for the corresponding period a year ago. Revenues for the nine months totaled $1.47 billion, up 7.6% from $1.36 billion the same period in 2011.
BMD partners with Marvin in Northern California
Building Material Distributors (BMD), a wholesale distributor of specialty building materials, has announced an agreement with Evolution Window & Door Co. for the exclusive northern California distribution rights of Marvin’s Integrity brand windows and doors. This transaction is effective Nov. 5.
“We look forward to the opportunity to offer our current northern California Marvin customers the full Marvin and Integrity families of products,” said Mike Garrison, Executive VP of BMD’s Marvin division. “As a full-service distributor for both the Marvin and Integrity lines, we are positioned to provide products to meet the ever changing needs of the market.”
BMD has distributed the Marvin Windows & Doors family of products for more than 30 years. Their distribution area includes California, Nevada, New Mexico, Colorado, and parts of Wyoming.
84 Lumber owners give rosy forecast
Pro dealer 84 Lumber opened a new store on Oct. 26 in Bridgeville, Pa., outside of Pittsburgh, marking the first new unit for the pro dealer in six years. The two-story store will be located on a seven-acre property that includes a kitchen and bath design showroom, a lumber warehouse, railroad spur and truss plant.
Company owner and president Maggie Hardy Magerko told the Pittsburgh Tribune Review that the company, which ranked No. 6 on the HCN Pro Dealer 2012 Scoreboard, will turn a profit this year for the first time since the housing downturn.
“We definitely hit rock bottom,” Hardy Magerko said in the interview. Sales at the new location, which will replace an older store located nearby, are projected to reach $25 million next year, she said.
Company founder and patriarch Joe Hardy, also interviewed by the Tribune Review, predicted that new-home construction “will start coming back in another year or so. The inventory is disappearing,” Hardy said, adding housing starts could return to the 1.5 million-a-year level nationwide in a couple years.
The company’s new store count is 251 locations, down from more than 500 units at its peak.