With sales gains, Huttig narrows Q4 loss
Huttig Building Products reported net sales for the fourth quarter of $134.8 million, up from $125.6 million the year before. The net loss for the quarter was $400,000, an improvement over 2012’s fourth-quarter loss of $2.8 million.
For the 12 months ended Dec. 31, sales came in at $561.5 million, up 7.8% from 2012. The St. Louis-based distributor swung to a profit for the full year with a net income of $3.2 million, compared to a loss of $500,000 in 2012.
"We continued to show year over year financial improvement in 2013," said president and CEO Jon Vrabely. "We are pleased to report our eleventh consecutive quarterly improvement in net income, excluding special significant items. In addition, our liquidity position has strengthened through our operating results."
Noting that Huttig began trading on NASDAQ in December, Vrabely stated that the company’s focus remains on driving profit and delivering strong results for stakeholders.
BlueLinx Q4 financial report offers a mixed bag
Building products distributor BlueLinx reported sales gains for the fourth quarter and full year, but still finished in the red.
For the quarter, sales increased 10.4% to $486.3 million. The company narrowed its fourth quarter net loss to $2.5 million, compared to a net loss of $11.4 million in the same quarter last year.
"Our operating performance for the fourth quarter of 2013 represents an improvement in net sales reflecting continued market recovery while our Adjusted EBITDA improved over 2012 levels," said president and CEO Mitch Lewis. "We are gaining traction on the previously announced restructuring efforts that were completed in 2013. Our organization is intently focused on improving our gross margins and operating more efficiently to facilitate leveraging our incremental volume to enhance our financial performance."
For the full year, sales improved 12.8% to $2.15 billion. However, the company’s net loss increased to $40.6 million, nearly twice that of 2012.
Lewis said he agreed with the consensus forecast of total housing starts to increase in 2014 to about 1.1 million. He also said the company expects residential repair and remodeling activity to grow at a pace of 4% to 5%.
Osmose gets patent for Micronized color system
Griffin, Ga.-based Osmose, Inc. now has a patent on its MicroShades micronized color technology for treated wood products.
The company said the patent (no. 8,603,576 B2) was issued by the U.S. Patent and Trademark Office in December.
“This new Osmose patent involves a method using micronized iron oxide color pigments for treating wood,” the company said. It complements other patents owned by Osmos.
MicroShades, described as innovative micronized pigment technology, offers consumers treated wood with natural colors similar to redwood and cedar. The MicroShades color technology was formally introduced in the U.S. in 2008 and is specifically formulated for use with a variety of Osmose wood preservative systems including MicroPro.