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Beacon Roofing Supply, Inc. (NASDAQ: BECN), Peabody, MA, reported sales for the first quarter ended Dec. 31, 2010, were $404.8 million, up 10.1 percent over the same period a year ago. Organic sales increased 6.6 percent. Profit increased 28.4 percent to $10.1 million.
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"Our first quarter 2011 results exceeded our expectations," said Paul Isabella, president and CEO. "Our commercial and complementary businesses bounced back well from low prior year levels and some of our regions experienced healthy gains in residential business as well."
Non-residential roofing and complementary product sales in existing markets increased 13.6 percent and 12.1 percent, respectively, while residential roofing sales decreased 0.8 percent. Residential roofing sales continued to be especially weak in markets affected by storms in 2009.
Beacon Roofing Supply, Inc. is a distributor of roofing materials and complementary building products, operating 177 branches in 37 states in the United States and in three provinces in Eastern Canada.