Gibraltar Industries Sales Increase 4.3% in 2013 - Modern Distribution Management

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Gibraltar Industries Sales Increase 4.3% in 2013

Gibraltar's sales growth driven by organic growth, new construction.

Gibraltar Industries, Inc. (NASDAQ: ROCK), Buffalo, NY, reported full year sales for 2013 of $825.2 million, an increase of 4.3 percent from 2012. The company reported a loss of $5.6 million for 2013, compared to a profit of $12.6 million in 2012.

Fourth quarter sales were $188.8 million, an increase of 9 percent from the same period the previous year. Profit increased to $4 million from a loss of $3.9 million in the fourth quarter of 2012.

Fourth quarter sales for the residential products segment increased 9 percent, while industrial and infrastructure sales increased 10 percent.

“Our revenue outperformance this quarter was driven by organic growth, despite the absence of overall end-market improvement,” said Brian Lipke, CEO of Gibraltar. “This was another quarter of increased sales related to residential new construction. Sales related to repair and remodeling in the residential and low-rise commercial building markets exceeded our expectations, driven primarily by demand for our centralized mail storage solutions."

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