Beacon Roofing Supply, Inc., Peabody, MA, reported sales for the second quarter 2009 increased 4.9% to $319.3 million from the prior-year period.
Residential roofing sales increased 37.2% while non-residential (commercial) roofing and complementary product sales declined 12.6% and 27.1%, respectively. Residential roofing sales benefited from year-over-year price increases as well as from strong, although diminishing, re-roofing activity in markets that were affected by Hurricane Ike.
Non-residential sales slowed due, in part, to adverse winter conditions in the Company's markets that have the largest concentration of commercial business. Complementary product sales continued to be negatively impacted by both the slowdown in the economy and lower levels of new construction.
Net loss for the second quarter was $2.4 million compared to $8.1 million in 2008, a 70% improvement.
Sales increased 11.4% to $782.6 million in the first half of 2009 from last year's first half. Residential roofing sales increased 48.7% while non-residential roofing and complementary product sales declined 7.8% and 21.7%, respectively.
Profit for the six months was $16.2 million.
Beacon Roofing Supply, Inc. is a distributor of roofing materials and complementary building products operating 169 branches in 35 states in the U.S. and in three provinces in Eastern Canada.