Revenues increase as new orders rise at Beazer
The third-quarter results at Beazer Homes showed a marked improvement in several categories, including new orders, homes closings, revenues and losses.
The Atlanta-based home builder reported revenues of $254.6 million, compared with $172.8 million in second fiscal quarter of 2011.
Total new orders were 1,555 homes, a 28.0% increase from a year ago, and the second-quarter cancellation rates were 24.5%, compared with 24.3% in fiscal 2011. Beazer reported total home closings at 1,109 homes, a 40.2% increase from the same period last year.
The average sales price from home closings was $227.3 thousand, compared with $213.0 thousand in fiscal 2011.
Net loss for Beazer during the second quarter of 2012 was $39.9 million, which including a loss from discontinued operations of $1.8 million, compared with a net loss of $59.1million for fiscal 2011, including loss from discontinued operations of $3.4 million.
“I am very pleased with our third quarter results,” said CEO Allan Merrill. “We generated improvement in new home orders, home closings and backlog, recording our fourth consecutive quarter of year-over-year increases in these metrics. This improvement reflects both the continuing operational benefits of our path-to-profitability strategies and gradually improving conditions in the housing market."
Beacon acquires St. Louis specialty distributor
Beacon Roofing Supply announced Friday that it has acquired Contractors Roofing & Supply Co., a distributor of residential roofing products and related accessories with one location in the St. Louis suburb of O’Fallon, Mo., and annual sales of approximately $14 million.
"The CRS acquisition, combined with the expected opening Monday, Aug. 6, 2012, of a new Roof Depot branch in St. Louis, gives us a solid presence in the very important and active St. Louis market,” said Paul Isabella, Beacon president and CEO. “We are excited to be in St. Louis and look forward to further growth in that market."
Ken Bennett, CRS’s owner who will be leaving to pursue other business interests, said: "I am thrilled that CRS will continue as part of Beacon, which can offer CRS’s customers wider access to roofing and other building products, while maintaining and enhancing the high level of service and value that CRS has provided over the years.” He added that Beacon offers current employees greater opportunities for business growth.
Beacon Roofing Supply is a leading distributor of roofing materials and complementary building products operating 207 branches in 38 states in the United States and across Canada.
In July, Beacon acquired Southern California-based Structural Materials Co.
BlueLinx renews FSC COC certification
BlueLinx Corp. has earned a renewal of its Forest Stewardship Council (FSC) Chain of Custody (COC) certification from the Rainforest Alliance. The distributor has been FSC COC certified since 2007, and the renewal extends through July 2017.
The FSC COC certification allows BlueLinx to continue to sell FSC COC certified wood products to its customers. BlueLinx can also store and deliver material through its 14 certified distribution centers across the country. The FSC is an independent, non-governmental, not-for-profit organization established to promote the responsible management of the world’s forests. Chain of Custody certification guarantees that wood that is sourced from certified, responsibly managed forestlands is tracked throughout the supply chain.
The Rainforest Alliance is a third-party group that certifies forest products, agriculture and tourism companies, promotes global conservation, sustainability and biodiversity.
Headquartered in Atlanta, BlueLinx is a leading distributor of building products in North America. It operates its distribution business from sales centers in Atlanta and Denver, and a network of approximately 55 distribution centers.