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Gibraltar Industries Sales Dip 1% in 2010

Gibraltar Industries, Inc. (NASDAQ: ROCK), Buffalo, NY, reported sales for 2010 were $685.1 million, down 1 percent from 2009 sales. The manufacturer and distributor of products for building markets recorded a net loss for the year of $91.1 million, compared to a year-ago loss of $52 million.

For the fourth quarter ended Dec. 31, 2010, sales were up 6.7 percent to $153.7 million in a year-over-year comparison. Net loss for the quarter was $74.5 million, compared to a loss of $29.4 million for the comparable period a year ago.

"The early indicators in 2011 support our forecast for improved performance as we fully leverage Gibraltar's more efficient operations and strong market positions in the year ahead," CEO Brian Lipke said. "The firming of demand in the nonresidential sector that we experienced in the fourth quarter is especially encouraging because it occurred in the energy, manufacturing and transportation markets where Gibraltar is well established. We also are seeing early signs of improvement in the residential and nonresidential repair and remodeling markets, and we expect this activity to accelerate through the coming year."

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