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Home » Beacon Roofing Supply Sales Down 2.8% at Fiscal Year End

Beacon Roofing Supply Sales Down 2.8% at Fiscal Year End

By    MDM  Staff 
December 1, 2009 Comment (1)
More about:  Building Materials/Construction
Fourth quarter sales for the distributor of roofing materials and building products were down 14% from the prior year.
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Beacon Roofing Supply, Inc. (NASDAQ: BECN), Peabody, MA, reported sales for its fiscal year ended Sept. 30, 2009, were $1.73 billion, down 2.8% from fiscal year 2008. Profit increased 30.1% to $52.4 million.

Residential roofing sales increased 18.3% while nonresidential roofing and complementary product sales declined 17.1% and 21.6% respectively.

"We are very pleased to deliver record annual earnings for our shareholders in a still very difficult economic climate," CEO Robert Buck said. "Our focus on cost controls, exceptional customer service and working capital management during 2009 has positioned us well to continue to deliver solid results, grow our Company, and increase shareholder value in 2010 even amidst the continuing softness in new residential and commercial construction."

Fourth quarter sales were $487.7 million, down 14% from the same period a year ago. Profit declined 23.7% to $19 million.

Residential roofing sales decreased 6.7% while non-residential roofing and complementary product sales declined 21.2% and 17.8%, respectively.

Beacon Roofing Supply, Inc. is a distributor of roofing materials and complementary building products operating 172 branches in 37 states in the United States and in three provinces in Eastern Canada.

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