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Beacon Roofing Supply Fiscal Year Sales Down 7%

Beacon Roofing Supply, Inc. (NASDAQ: BECN), Peabody, MA, reported sales for the fourth quarter ended Sept. 30, 2010, were $482.6 million, a decrease of 1.1 percent from the same period a year ago. Organic sales declined 3.8 percent. Profit for the distributor of roofing materials and complementary building products fell 11.4 percent to $16.9 million.

For the full fiscal year, sales were $1.61 billion, down 7.2 percent from fiscal year 2009. Organic sales decreased 8.7 percent. Profit fell 34.1 percent to $34.5 million.

The year-over-year declines were a result of industry and economic conditions remaining "more challenging than anticipated" and difficult comparisons to a year with "significant storm business and record annual earnings," according to CEO Robert Buck.

During the fourth quarter, residential roofing sales in existing markets decreased 16.8 percent, while non-residential roofing and complementary product sales increased 11.5 percent and 3.3 percent, respectively. Full-year sales of residential roofing sales in existing markets decreased 18 percent, while non-residential roofing sales and complementary product sales increased 1.2 percent and 2.1 percent, respectively.

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