Worthington Cylinders announces new hand torches
The new products are the Worthington Pro Grade Universal Hand Torch Extension Hose, Worthington Pro Grade Oxy-Fuel Kit and Worthington Pro Grade 360? Swivel Hand Torch.
The Worthington Pro Grade Universal Hand Torch Extension Hose gives users up to 59 inches of freedom and separates the fuel cylinder and the existing hand torch. The extension hose includes a belt hook and handle adaptor.
The Worthington Pro-Grade Oxy-Fuel Kit allows users to weld, cut and braze using oxygen and MAP//Pro gas. The kit includes a MAP//Pro fuel cylinder, oxygen cylinder, hand torch with a four-foot fiber reinforced hose, five welding/brazing rods, regulated oxygen valve, fuel valve, cylinder stand and igniter.
The Worthington Pro Grade 360? Swivel Hand Torch allows for full range of motion while producing a precise flame for brazing and soft soldering.
Builders First Source posts big loss in Q1
Builders FirstSource, one of the industry’s largest pro dealers, reported a net loss of $30.5 million for its first quarter, which ended on March 31. This compares to a loss of $15.8 million in the first quarter of 2008. Sales for the Dallas-based chain of lumberyard and component plants were $163.8 million for the first fiscal quarter, a 37% decrease from sales of $259.8 million during the same quarter of 2008.
In a prepared statement, CEO Floyd Sherman said market share gains and further penetration in the multi-family and light commercial segments reduced the sales decline by 17%, compared to the first quarter. One distribution center and one truss facility were closed during the quarter, he said.
Charles Horn, the company’s SVP and CFO, said Builders FirstSource ended the quarter with more than $102 million in cash, of which $83.5 is available for operations. The company intends to continue paring back expenses, he said, and has targeted a 10% reduction in the “average full-time equivalent” employees by the end of the second quarter, which would lower annual payroll costs by approximately $14 million.
Listed ninth on the Home Channel News Top 350 Pro Dealer Scoreboard, Builders FirstSource operates 57 lumberyards in 11 states, primarily in the Southeast and the East.
Pennsylvania hardware store to close
Saylor Bros. Hardware Center, which caters to contractors and do-it-yourselfers in the suburban East Hills of Johnstown, Pa., has begun to liquidate inventory in anticipation of closing in June, the Tribune-Democrat reported.
Co-owner Keith Saylor said the family-owned hardware store has seen its market share decrease steadily over the last several years, the article said. Saylor and partner Larry Betcher purchased the business in 1975 from Saylor’s father, Donald, and his uncle, Kenneth — the original Saylor brothers.
As part of the liquidation process, Saylor Bros. is allowing customers to earn points toward prizes that include a flatscreen TV, barbecue grill, portable DVD player, iPod Shuffle and a digital camcorder. Prizes will be given away on June 6 based upon the number of points accrued by the customers.