Maryland dealer signs partners with BlueTarp Financial
Delta Lumber Do it Center of Whiteford, Md., has entered a partnership with Portland, Maine-based BlueTarp Financial, the trade credit and marketing services provider for the building supply industry.
The 93-year-old Delta Lumber is owned and operated by David H. Galbreath, nephew of Robert Galbreath, who co-founded the business in 1920. The company is now collaborating with BlueTarp on a customized full-service financial program that covers the trade credit needs of its customers, including applications, service and collections. BlueTarp will provide guaranteed cash flow by receiving funds on a pre-determined schedule.
Larry Dawson, general manager of Delta Lumber, said: “Partnering with BlueTarp will allow us to do what we do best — provide a high level service to our customers. As important, it will help us grow and become more profitable.”
At BlueTarp, CEO Scott Simpson says its services help keep things simple for customers.
“Many independent second-generation dealers are choosing BlueTarp to help them grow the family business because we’ve built a strong reputation in the industry for providing seamless service to their customers, while positioning the dealers for growth,” Simpson said. “Delta recognizes that our approach is to make the transition to BlueTarp smooth so that there is no disruption to customers.”
Boise Cascade reports sales gains
Boise Cascade posted first-quarter sales of $744.9 million, an increase of 26.9% compared with the same quarter last year.
Income from operations increased to $24.6 million, up from $6.2 million in the prior-year quarter.
Higher manufacturing costs, including wood costs, pushed expenses. Materials, labor and other operating expenses increased $134.7 million, or 26%, to $644.8 million for the three months ended March 31, compared with $510.1 million during the same period in the prior year.
Wood products sales, including sales to the company’s Building Materials Distribution segment, increased 28%. Building Materials Distribution sales increased 29%.
“We expect to continue to experience demand below 20-year average historical levels for the products we manufacture and distribute,” the company wrote in its quarterly filing with the Securities and Exchange Commission. “However, the housing industry has shown signs of improvement in the U.S., and we remain optimistic that the recent improvement in demand for our products will continue.”
BlueLinx reports Q1 revenues up 10.9%
Atlanta-based BlueLinx Holdings reported revenues of $503.2 million for the first quarter ended March 30 — that’s a 10.9% increase from $453.7 million in the same quarter last year.
Despite the double-digit gain, BlueLinx posted a wider net loss of $12.6 million in the quarter, compared with a loss of $11.0 million in last year’s second quarter.
Gross margins were 11.2% compared with 12.0% a year ago.
"While our business is off to a good start in several parts of the country, our specialty sales declined in two of our largest regions, both of which greatly benefited from last year’s early spring,” said George Judd, president and CEO. “Wood-based structural product prices have risen significantly, and we experienced increased demand in regions with less severe winters. We believe that the sustained growth in both housing starts and permits will continue, which will in turn drive growth in other areas, such as repair and remodeling. BlueLinx is well positioned to grow in all regions as we move into the spring."