LUMBERYARDS

Centex Homes recalls solar panels, citing fire hazard

BY HBSDEALER Staff

Centex Homes is recalling approximately 240 homes’ worth of SolarSave roof panels, which have been reported to pose a fire hazard.

So far, two incidents have been reported involving roof fires in or near the panels, both in homes sold by Centex. No injuries have yet been reported.

The recall affects Open Energy 34 watt (OE-34) Solar Panel energy systems sold under the brand name Open Energy SolarSave Roofing Tiles. The affected modles are brown, terracotta and gray OE-34 SolarSave tiles installed on new homes sold by Centex.

Centex says it has directly contacted the customers impacted by the recall and performed free installations of new solar panels.

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P&F Industries points to growth of tool-segment

BY HBSDEALER Staff

P&F Industries, Inc. reported a strong finish to the full-year period ended Dec. 31, 2013, with an especially large boost in Tools revenue that the company attributes to its entry into The Home Depot.

"Our consolidated 2013 revenue increased 27.0% when compared to 2012’s revenue," said chairman, CEO and president Richard Horowitz.

For the three-month period ended Dec. 31, revenue was $15.4 million, up 21.3% year-over-year. Income for the quarter was $919,000, more than double that of the same period a year before.

Full-year 2013 revenue came in at $76.1 million, up from $59.9 million in 2012. Net income was $3.2 million, down from $5.4 million the year before.

"Although we are reporting an increase in our income before income taxes of approximately $1.3 million, our net income after taxes declined," added Horowitz. "As the result of a lapse of the statute of limitations on an uncertain tax position, during the fourth quarter of 2013 we realized a tax benefit of $329,000. As a result, our net income after taxes for the 2013 fiscal fourth quarter was $919,000, compared to $342,000 in the same period in 2012."

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Southern lumber groups join forces

BY HBSDEALER Staff

There is strength in unity. That’s one reason pro dealers in Alabama, Georgia, Louisiana and Mississippi will soon see a merger of two regional lumber associations.

The boards of the Construction Suppliers Association and the Mid South Building Material Dealers Association voted to merge the organizations into one group. The merged group will be called the Construction Suppliers Association and will be headquartered in Tyrone, Ga.

“We believe that we can be better together than either of us was separately,” said Alex Hill, chair of CSA. “We looked very carefully at this opportunity to ensure that we could create more programs and services than we currently offer, and it was clear that we can. I believe we are creating a unique association that will help ensure a brighter future for independent dealers in our four states.” 

“We’re excited to join forces with CSA,” said Tommy Chauvin, president of MBMDA. “CSA offers tremendous programs for independent dealers. The mission of our two associations, and the culture of our members, is quite similar. We fit together well.” 

The vote of the boards must be ratified by the membership of both organizations. Each group will be conducting a vote according to their own bylaws over the coming weeks. Assuming that both memberships affirm the merger, the groups will merge on July 1, 2014. 

Paul Phillips, MBMDA executive director, will join the staff of CSA as director of membership and remain based in Mississippi. Jim Moody, CSA’s president, will remain president of the merged association.

The MBMDA was formed in 1924. The CSA dates back to 1936.

The merged association will offer a wide array of programs and services to help independent dealers. Some of those include: 

• Peer learning groups for Next Generation Leaders, sales managers, store managers, owners, truss managers, and dealers who are thinking about transitioning their businesses to their heirs.

• Group self-insured plans for health and worker’s compensation. 

• Serving as the voice of the industry to regulatory and legislative branches of state governments.

• An annual trade show in spring and a management conference in fall. 

• Consulting and compliance assistance with safety, transportation, human resources and workforce issues.

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