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Dallas, TX-based Builders FirstSource, Inc., supplier and manufacturer of structural and related building products for
residential new construction in the U.S., reported sales for the second quarter ended June 30, 2009, were
$175.5 million, down 37.8% from $282.3 million in the prior-year period. Sales volume dropped 33%. Builders
FirstSource noted a gain from multifamily and light commercial sales.
The net loss for the quarter
was $22.6 million.
The severity and prolonged nature of the housing downturn has forced substantial
capacity reduction within our industry. Several of our largest competitors filed for bankruptcy protection
during the quarter, and we were forced to make the tough decision to discontinue our Ohio operations," said CEO
Floyd Sherman. "This decision was not ...
Dallas, TX-based Builders FirstSource, Inc., supplier and manufacturer of structural and related building products for
residential new construction in the U.S., reported sales for the second quarter ended June 30, 2009,
were $175.5 million, down 37.8% from $282.3 million in the prior-year period. Sales volume dropped 33%.
Builders FirstSource noted a gain from multifamily and light commercial sales.
The net loss
for the quarter was $22.6 million.
"The severity and prolonged nature of the housing
downturn has forced substantial capacity reduction within our industry. Several of our largest competitors filed for bankruptcy
protection during the quarter, and we were forced to make the tough decision to discontinue our Ohio operations," said
CEO Floyd Sherman. "This decision was not taken lightly, but was made to protect the overall financial
health of the company and its remaining 78 locations."
Three locations were closed during
the second quarter, related to the company's Ohio operations. Headcount was down 40.5% from the second
quarter of 2008.
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