Gibraltar Industries Inc. (NASDAQ: ROCK), Buffalo, NY, reported sales for 2014 of $862.1 million, an increase of 4 percent from the previous year. The company reported a loss of $81.8 million for the year, compared to a loss of $5.6 million the previous year.
Fourth quarter sales were $202 million, an increase of 7 percent from the same period the previous year. The company reported a loss of $95.7 million for the quarter, compared to a profit of $4 million in the fourth quarter of 2013.
Fourth quarter sales for the residential products segment increased 23 percent, while industrial & infrastructure sales increased 6 percent.
“Our goals are to achieve stronger financial results, make more efficient use of Gibraltar’s capital, and deliver higher shareholder returns than we did in 2014," said Kenneth Smith, CFO. "To make meaningful progress toward achieving these goals, we will need to be aggressive in three key areas. The first is operational excellence; the second is portfolio management; and the third is to make effective use of acquisitions as a strategic accelerator for the business."
