Osmose grants patent licenses to Arch
A patent dispute between two suppliers of wood-preserving technologies has led to a licensing agreement.
Griffin, Ga.-based Osmose has agreed to grant a worldwide license to Arch Treatment Technologies to practice under certain patents owned by Osmose. The patents cover the use of micronized wood preservatives, including the patent that was the subject of a previous dispute between the two companies.
Terms of the licensing agreement were not disclosed.
Arch Treatment Technologies is a subsidiary of Arch Chemicals.
Micronized wood preservatives are utilized to pressure-treat wood products commonly used in decks, fences, landscaping, agricultural, house framing and other general construction uses.
Both companies will continue to supply their portfolios of preservative products to consumers, contractors and builders, according to a release announcing the licensing agreement.
UFP swings to loss in first quarter
Grand Rapids, Mich.-based Universal Forest Products (UFP) posted first-quarter 2011 net sales of $387.2 million, down 1.5% from net sales of $393.0 million in the same period of 2010.
UFP posted a net loss of $3.7 million compared with net earnings of $1.0 million for the first quarter of 2010.
"We are not satisfied with our results this quarter, but we know that our business was affected by challenging external factors, and we have reason for optimism for the balance of the year," said CEO Michael B. Glenn. "We expect a more stable market this year and have improved performance expectations, particularly in the back half of the year."
Among the key factors that hurt sales and profitability, according to the company, were major winter storms in January and February, plus a dramatic run in lumber prices in early 2010 that boosted margins in the year-ago quarter.
The company is encouraged by the continued strength of the industrial market, Glenn said.
Sales rise at HD Supply
HD Supply has reported net sales for its fiscal 2010 fourth quarter of $1.7 billion, a 6.7% rise over sales in the fourth quarter of fiscal 2009. Operating loss for the quarter, which ended Jan. 30, 2011, was $11 million, compared with $87 million in the fourth quarter of fiscal 2009.
For the full year, net sales for fiscal 2010 were $7.5 billion, an increase of 0.8% over the full year of fiscal 2009. Operating income in fiscal 2010 was $32 million, an increase of $354 million compared with the full year of fiscal 2009, which included a $224 million pre-tax goodwill impairment charge. Excluding the goodwill impairment charge in fiscal 2009, adjusted operating income for fiscal 2010 increased $130 million compared with fiscal 2009.
In a prepared statement, company CEO Joe DeAngelo addressed the company’s liquidity, which increased $426 million during the fiscal year, resulting in $1.3 billion at the end of the fourth quarter.
“In 2010, our associates’ continued focus on our customers, and our significant investments in the company to accelerate sales and growth momentum enabled us to gain market share and report year-over-year improved financial results, the first since 2007,” DeAngelo said. “Furthermore, our liquidity remains very strong, which allows us to meet our commitments and continuously invest in profitable growth.”