Gibraltar Industries Sales Up 8% in Third Quarter - Modern Distribution Management

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Gibraltar Industries Sales Up 8% in Third Quarter

President & COO Frank Heard will take on the post of CEO on January 1.

Gibraltar Industries Inc. (Nasdaq: ROCK), Buffalo, NY, reported third-quarter sales of $234.1 million, up 8 percent over the same period a year ago. Profit was $9.5 million, compared to a year-ago loss of $13.7 million.

“The growth was driven by accelerating residential market demand for our new centralized postal storage solutions, as well as modestly higher sales volume in our roofing-related businesses," CEO Brian Lipke said. "These factors contributed to stronger-than-anticipated revenues in our residential products segment. Net sales were also up, year-over-year, in our industrial and infrastructure products segment due to favorable volume and pricing in sales to energy and manufacturing-related customers.”

For the nine months ended Sept. 30, sales were $660.1 million, up 3 percent year-over-year. Profit was $13.9 million, compared to a year-ago loss of $9.6 million.

Gibraltar also announced that current President and COO Frank Heard will become Gibraltar’s president and CEO on Jan. 1, 2015. Lipke will remain as the company’s chairman.

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