U.S. Home Systems reports strong Q4
U.S. Home Systems has reported fourth-quarter net income of $927,000, up 30.9% from $708,000 in the prior-year fourth quarter. Revenues in the fourth quarter ended Dec. 31, 2011, increased to $38.7 million from $38.0 million.
New orders increased to $37.9 million in the fourth quarter from $37.2 million in the fourth quarter a year ago.
Full-year net income totaled $4.7 million, compared with $2.1 million in the prior year. Full-year revenues increased 13.1% to $164.9 million from $145.9 million in 2010.
New orders for the full year increased 11.7% to $166.1 million from $148.6 million in 2010.
"We overcame economic challenges and issues related to lower credit approval rates for our customers to deliver another year of increased new orders during 2011,” said Murray Gross, chairman and CEO. “Resolving the credit approval rate remains a top priority. Nevertheless, we are very confident that we will continue to deliver solid performance in 2012."
The company expects first-quarter 2012 revenue of $40.5 million, compared with revenues of $39.0 million in the first quarter of 2011.
U.S. Home Systems’ product lines include kitchen cabinet refacing products, bathroom remodeling products, storage organization systems for closets and garages and related accessories.
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Evans Lumber to close in West Virginia
According to an article in the Marietta Times, Evans Lumber Co. in South Charleston, W. Va., is closing at the end of the month after 82 years as a family-run business.
The third-generation family business hit problems that grew from a poor economy, competition and changing customer habits.
Owner Don Evans described one of the problems to the newspaper this way: "Independents are more sensitive to their customers’ needs, where big-box stores are sensitive to what product they can sell for a good profit. We’re suffering from the very thing we pushed for so many years," he said. "We have people who call our salespeople for questions, then buy at Lowe’s."
According to the article, Don’s father, Walter “Pat” Evans, never missed a day of work. Pat died in 1995. The store took on its Do it Best branding in 1996.
I am interested in this topic
I am interested in this topic and would like to find out some more information as my friend need information on this topic. Do you have any other articles about this? Peter
Wow, makes that comment about
Wow, makes that comment about "momentum" in the consumer confidence article sound like BS doesn't it. Another good independent dealer shuts down. Some friggin recovery.
Weyerhaeuser to export OSB to Japan
Weyerhaeuser will soon produce oriented strand board (OSB) for export to Japan, the company has announced. The OSB panels are used in both residential and commercial construction in Japan, as wall and roof sheathing and as structural flooring panels.
The Weyerhaeuser OSB mill in Hudson Bay, Saskatchewan, Canada will produce the material under a JAS certification received from the APA in February. The mill will use a proprietary formulation specifically engineered to meet JAS strength and stiffness criteria, as well as the stringent F4 requirements for formaldehyde emission levels. Production to this standard will begin in April with the first material arriving in Japan in May.
"We are very excited to be entering the Japan market," said Chad Kelly, Hudson Bay mill manager. "This is a great fit for us in terms of our wood supply and our production strengths. We have a nine-foot-wide press so we can produce three-foot-wide material very efficiently."
The Hudson Bay mill will produce JAS-certified panels in standard sizes-such as 910mm x1820mm (approximately three feet by six feet) and 910mm x2730mm (three feet by nine feet) to align with Japanese building practices, as well as custom sizes. Thicknesses from 9.0mm to 28mm will meet the appropriate JAS classifications.
With over 50 years of experience in the Japanese housing market, Weyerhaeuser has representatives for engineered wood products, lumber, and pulp in the Weyerhaeuser Tokyo office.
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