LUMBERYARDS

GE brings LED technology to Fisherman’s Wharf

BY HBSDEALER Staff

GE is behind the latest eco-forward move in San Francisco — specifically, that of the iconic 16-ft. crab wheel at the gateway of Fisherman’s Wharf.

Together with the Arrow Sign Company, GE helped restore the landmark with new LED sign lighting systems that will save an estimated 80% in lighting energy usage.

“We reviewed several contractor bids and one of the main factors to choose Arrow Sign Company was its use of GE products,” said Troy Campbell, executive director of Fisherman’s Wharf CBD. “We knew LED technology had the right long-lasting, energy-saving benefits for us, and we felt confident in the GE brand.”

Replacing the traditional fluorescent tube lighting was GE’s Tetra PowerStrip LED sign lighting, which uses 676 watts compared to 4,000 watts with the previous technology. The landmark is also expected to see fewer maintenance hours as a result.

Campbell added that tourists are appreciating the sign’s "bright, even glow" and "uniform, one-color appearance."

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Sherwin-Williams rakes in more cash (but not earnings) in Q1

BY HBSDEALER Staff

The Sherwin-Williams Company announced mixed results Thursday for the first quarter of 2014, which saw greater top-line revenue for the company that wasn’t matched by its net income performance.

Net sales for the three months ended March 31 were $2.37 billion, up 9.2% from $2.17 billion the year before. Sherwin-Williams attributed the increase primarily to higher paint sales volume in the Paint Stores Group and acquisitions, which accounted for 4.5% of the increase alone. Net sales in the Paint Stores Group increased 16.4% to $1.36 billion.

In terms of net income, the company pulled in $115.5 million, down from $116.2 million in 2013.

"The Paint Stores Group architectural volume growth was strong across all end market segments," said chairman and CEO Christopher M. Connor. "The Comex acquisition performed better than expected in the quarter. Although the impact of harsh weather on domestic sales in the quarter was modest, it did disrupt supply chain operations and service driving up costs in the Consumer Group. Our Global Finishes Group continues to improve its operating margins through improved operating efficiencies. The Latin America Coatings Group despite the continued difficult environment is minimizing the impact on its core operating margins through selling price increases and good cost control."

Connor added that the company opened 17 new locations in the Paint Stores Group, and expects to open 80 to 90 new stores this year in total.

Sherwin-Williams recently canceled its bid for Comex Mexico, but it did complete the successful acquisition of the U.S. and Canadian Comex divisions. Connor was referring to those business units in his quote.

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UFPI’s Q1 sales flat, though earnings up 38%

BY HBSDEALER Staff

Universal Forest Products, Inc. announced its first-quarter 2014 results Wednesday, which showed marked improvement in bottom-line earnings but relatively stagnant revenues.

Net sales for the quarter came in at $554.0 million, barely changed since last year’s $554.5 million. Net earnings for the peiod came in at $7.2 million, which is up 38% year-over-year.

"We focused successfully on improving the performance of our framing operations, and that was the primary driver of our increased profitability in the first quarter," said CEO Matthew J. Missad. "We remain well-positioned in construction, and in each of our business markets, for the rebound we believe will occur as the weather breaks."

Missad added that a "historically brutal winter" affected businesses throughout the country, resulting in 80 plant closure days at the company’s various North American locations.

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