6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Roofing and building product distributor Beacon Roofing Supply, Inc. reported sales in the first quarter 2007 increased 11.9% to $380.2 million in 2007 from the same period a year ago. Organic sales declined 5.5% in 2007 but increased 2.3% on a per business day basis.
The existing market growth rate was still below the high pace of recent quarters and can be attributed, in part, to a significant slowdown in new residential construction, a flattening of inflation and the prior-year extensive re-roofing and reconstruction activities in some of the company's markets following Hurricanes Katrina and Rita. A negative sales trend continued into the first month of the second quarter of this year, which may not be reflective of the entire quarter's sales results due to the seasonality of our second quarter, according to Beacon.
The Company's net income for the first quarter was $8.8 million compared to $12.9 million in 2006.
Beacon Roofing Supply, Inc. operates 157 branches in 31 states in the U.S. and Canada.