The 2020 Mid-Year Economic Update_long

Huttig Building Products Sales Grow 11.7% in 2Q

Building products distributor is still reporting a loss for the period.

Huttig Building Products, St. Louis, MO, reported sales were up 11.7 percent in the three months ended June 30, 2010, to $133.9 million. The building materials distributor reported a net loss of $2.3 million.

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For the first six months, Huttig reported sales of $237.4 million, up 8 percent from the prior-year period. The distributor had a net loss of $8.1 million in the first half.

In its quarterly SEC filing, Hutting reported that difficulty in new residential construction continues to hurt its results, though the filing showed some optimism. "The decline in annualized housing starts appears to have leveled off in the past several quarter," Huttig reported. Since the second quarter 2006, Huttig has reduced its workforce by 1,200. It has closed, consolidated, or sold 20 distribution centers.

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