The 2020 Mid-Year Economic Update_long

Day: October 30, 2008

DXP 3Q Sales Up 75.1%

DXP Enterprises, Inc., Houston, TX, reported third quarter sales were $186.9 million, up 75.1% from the third quarter 2007. Profit increased 56.9% to $7 million. Businesses acquired in 2007 and 2008 contributed $65.7 million to quarterly sales.
Profit for the nine months ended Sept. 30, 2008, was $18.8 million, up 62% from the prior year period. Sales increased 97.0% to $543.2 million.
DXP Enterprises, Inc. is a distributor of products focused on pumping, integrated supply and ...

BlueLinx Reports Loss for 3Q

BlueLinx Holdings Inc., Atlanta, GA, a distributor of building products in North America, reported a net loss of $2.6 million for the third quarter ended Sept. 27, 2008, compared with profit of $0.9 million in the year-ago period. Sales declined 28.5% to $727 million.
The overall third-quarter unit volume decline of 33% was mainly due to lower unit volumes in both structural and specialty products driven predominately by a 33% decline in housing starts relative to year ago levels.
For the nine months ended Sept. 27, 2008, net loss totaled $6.6 million on revenues of $2.28 billion, compared with profit of $6.1 million on revenues of $3.06 billion a year ago. ...

Kaman Sales Up 21.9% for 3Q

Kaman Corp., Bloomfield, CT, reported sales of $335.1 million for the third quarter ended Sept. 26, 2008, an increase of 21.9% from the prior-year period. Profit from continuing operations was $13.5 million, an increase of 43.6% from the third quarter 2007.
For the first nine months of 2008, profit from continuing operations increased 3.6% to $28.5 million, as compared to the same period the prior year. Sales were $937.2 million, an increase of 15.2%.
The Industrial Distribution segment reported third quarter sales of $204.3 million, an increase of 14.7% from a year ago. Organic sales growth in the quarter was 7.1%, with the remaining growth coming from the acquisition of Industrial Supply Corp. during the second quarter. The Industrial Distribution segment's ...

Huttig Reports $7.7 million Loss for 3Q

Huttig Building Products, Inc., St. Louis, MO, a domestic distributor of millwork, building materials and wood products, reported sales for the third quarter ended Sept. 30, 2008, declined 22% to $182.8 million in a year-over-year comparison. The company reported a loss of $7.7 million, compared to a loss of $0.1 million in third quarter 2007.
Third quarter sales continued to be impacted by the 32% year-over-year decline in average annualized housing starts for the quarter, to approximately 0.88 million, from 1.30 million in the 2007 third quarter. Operating results reflected $2.0 million of branch shut down costs and related inventory write down and liquidation charges associated with the closing of the Springfield, MO and Fredericksburg, VA branches.
Despite ...