Gibraltar Industries, Inc. (NASDAQ: ROCK), Buffalo, NY, a manufacturer and distributor of products for building markets, reported sales from continuing operations in the second quarter 2010 were $192 million, unchanged from the second quarter 2009.
|We Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.
Income from continuing operations before special charges in the second quarter of 2010 increased to $4.1 million.
Brian Lipke, Gibraltar’s CEO, said: “After experiencing improved order levels in March and April, we expected even stronger results in the second quarter. However, the expiration of the federal tax credit for first-time homebuyers, persistently high unemployment, and weakening consumer confidence lowered activity levels in May and June.”
For the first six months of 2010, sales from continuing operations were $349 million, a decrease of 2 percent compared to the first half of 2009. The decrease was primarily due to a slow and uneven recovery in the residential building market and continued weakness in the non-residential building and industrial markets.