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Home » Huttig Building Products Sales Fall 32% in 2009
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Huttig Building Products Sales Fall 32% in 2009

By    MDM  Staff 
February 26, 2010
More about:  Building Materials/Construction
Huttig sales were down in all major product categories.
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Building materials distributor Huttig Building Products (HBPI.PK) reported sales for fiscal 2009 were down 32% to $455.2 million. Huttig recorded a net loss of $20.5 million, an improvement from a net loss of $35.4 million in 2008.
 
Sales decreased in all major product categories in 2009. Millwork sales decreased 33% in 2009 to $204.6 million. Building product sales decreased 28% in 2009 to $209.1 million.
 
Wood products decreased 45% to $41.5 million in 2009 with a 50% decrease in sales of engineered wood products and a 44% decrease in sales of other wood products.
 
Sales of building products decreased less than the overall market due to new product initiatives in the building products category including decking and railing, fasteners, connectors and housewrap.
 
In its 10K, Huttig reported: "While we expect the severe downturn in new residential construction to continue to adversely affect our operating results into 2010, the decline in annualized housing starts appears to have narrowed over the past several quarters. We anticipate a slight increase in housing starts in 2010 versus 2009 based on the current level of housing activity and industry forecasts for 2010."

 
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