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Beacon Roofing Organic Sales Decline in 2007
November 30, 2007
Beacon Roofing Supply Inc., Peabody, MA, reported sales grew 9.7% to $1.65 billion in fiscal 2007, reflecting acquisitions made during the year. Existing market sales fell 4.8%, with decreases in residential roofing and complementary building product sales.
Existing market non-residential sales were up 2.7%.   ; Profit was $25.3 million in 2007, down from $49.3 million in 2006.
In the fourth quarter 2007, sales were up 14.% to $493.8 million from the same period a year ago.   ; The increase was due to the acquisitions completed since last year's fourth quarter, including North Coast Commercial Roofing Systems. The positive impact from the acquisitions was offset by a decline of 8.3% in existing market sales caused by a 16.4% decline in residential roofing sales, with non-residential roofing and complementary product sales in existing markets unchanged and down only 1.6%, respectively.   ; Beacon's profit in the fourth quarter was $11.3 million, down from $14.6 million in 2006 fourth quarter.