BlueLinx Holdings Inc., Atlanta, GA, distributor of building products in North America, reported sales fell 30.5% to $957.1 million. The company recorded a net loss for the quarter of $189,000, compared with a profit of $9.8 million in the same period a year ago.
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We continued to operate in a challenging business environment during the first quarter,” CEO Stephen Macadam said. “The ongoing cyclical decline in housing starts and lower wood-based structural product prices, the key grades of which ended the quarter about 26% below year-earlier levels, combined to make the first quarter a continuation of one of the weakest business environments our industry has experienced in many years.”
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Macadam said that BlueLinx does not see any signs of significant recovery in its housing-related business, but also does not see signs of significant further deterioration.
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“Our overall end-use markets appear generally weak, but stable. Wood-based structural product prices are showing some stability, but remain near their manufacturing costs and sharply below year-ago levels,” Macadam said. “We do not expect wood-based structural product prices to show any sustained recovery until demand returns with the recovery of the home construction sector.”
BlueLinx Records Net Loss for 1Q
BlueLinx Holdings Inc., Atlanta, GA, distributor of building products in North America, reported sales fell 30.5% to $957.1 million. The company recorded a net loss for the quarter of $189,000, compared with a profit of $9.8 million in the same period a year ago.
  ;
We continued to operate in a challenging business environment during the first quarter," CEO Stephen Macadam said. "The ongoing cyclical decline in housing starts and lower wood-based structural product prices, the key grades of which ended the quarter about 26% below year-earlier levels, combined to make the first quarter a continuation of one of the weakest business environments our industry has experienced in many years."
  ;
Macadam said that BlueLinx does not see any signs of significant ...
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