Lumberyard hits six-decade milestone
Cascade, Iowa-based Cascade Lumber Company, a family-owned and operated retail lumberyard, is celebrating its 60th year of operation in 2013. Operating from a single location in eastern Iowa, Cascade Lumber operates a lumberyard in addition to a full-service home center serving retail and contactor customers. In addition, floor covering sales and installation are conducted from the Cascade location and a second outlet in nearby Monticello, Iowa.
Cascade Lumber Company has a subsidiary company, Cascade Manufacturing Company, which furnishes wood and cold-formed steel truss and wall panels for residential, commercial and agricultural projects throughout the Midwest.
The yard is holding a Founders Day Friday, May 17, which is for the community and customers. And an employee appreciation day with new and former emplyoyees is set for Sunday, May 19.
Cascade Manufacturing also operates an engineered wood distribution center carrying a complete line of I-joists, LVL and LSL products.
The diversity in products and markets has allowed for continued growth during the company’s 60-year history.
New hires at Snavely Forest Products
The company announced the addition of Lena Rink, typar specialist; David Cunningham, operations manager; and John Owens, inside sales representative.
Rink joins Snavely with more than 12 years experience in the building products industry. She brings valuable experience from Casco Industries, Bradco Supply Corp., and most recently SPEC Building Materials, according to the company.
David Cunningham brings with him 30-plus years of operations management experience from Foxworth-Galbraith.
John Owens, relatively new to the building products industry, has extensive knowledge of industrial fasteners from his experience at Fastenal and is a recent graduate of Texas State University.
USG gets back in the black
Chicago-based building industry giant USG Corp. reported first-quarter net sales of $814 million, up 4% from first-quarter 2012 net sales of $783 million.
First-quarter 2013 net income was $2 million. This result compares with a $27 million net loss in the first quarter of 2012.
“We are pleased to report our first-quarter of net income in more than five years,” said James S. Metcalf, chairman, president and CEO. “All segments showed improved results in the period, and our commitment to innovation and lowering our break-even are evident in our results.”
The company also reported a first-quarter 2013 operating profit of $49 million compared with a $24 million operating profit in the same quarter last year.
The corporation’s adjusted net income was $1 million in the first quarter of 2013, which compares with an adjusted net loss of $27 million in the first quarter of 2012. The adjusted net income for the first quarter of 2013 excludes $2 million of restructuring charges and a $3 million benefit from a change in tax law. The adjusted net income for the first quarter of 2012 excludes $2 million of restructuring charges and $2 million of income from discontinued operations.
“Achieving positive net income in the first quarter is an important milestone as we emerge from the most significant downturn in our company’s history, but there is more work to be done,” Metcalf said.