The 2020 Mid-Year Economic Update_long

Day: May 4, 2007

BlueLinx Records Net Loss for 1Q

BlueLinx Holdings Inc., Atlanta, GA, distributor of building products in North America, reported sales fell 30.5% to $957.1 million. The company recorded a net loss for the quarter of $189,000, compared with a profit of $9.8 million in the same period a year ago.
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We continued to operate in a challenging business environment during the first quarter," CEO Stephen Macadam said. "The ongoing cyclical decline in housing starts and lower wood-based structural product prices, the key grades of which ended the quarter about 26% below year-earlier levels, combined to make the first quarter a continuation of one of the weakest business environments our industry has experienced in many years."
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Macadam said that BlueLinx does not see any signs of significant ...

Interline Brands Sales Grow 31.5% in 1Q

Interline Brands, Inc., Jacksonville, FL, distributor and direct marketer of maintenance, repair and operations products, reported sales for the first quarter of 2007 increased 31.5% over the comparable 2006 period.
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Sales for the quarter ended March 30, 2007 were $295.4 million. Average organic daily sales growth for the first quarter was 3.2%. Profit was $9.4 million, compared with $8.4 million in the year-ago period.
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Michael Grebe, chairman and CEO, said Interline's facilities maintenance business posted strong sales growth, despite softness in the pro contractor market, which fell 6.2%. The facilities maintenance businesses grew by 14.1% in the quarter. Grebe expects the pro contractor and specialty distributor end-markets to continue to be difficult ...

$3.2B Lab Supplier VWR International Sold

Lab supplier VWR International, Inc., West Chester, PA, a portfolio company of Clayton, Dubilier & Rice, Inc., will be acquired by Madison Dearborn Partners.
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VWR had revenue of more than $3.2 billion in 2006. It is the second largest distributor in the global research lab supply industry, with customers in pharmaceuticals, biotechnology, education and industry.
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Madison Dearborn Partners is a private equity investor in the U.S.
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VWR announced on March 12, 2007 that it was exploring strategic options for the ...

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