Beacon Roofing Supply Inc. (NASDAQ: BECN), Peabody, MA, reported sales for fiscal 2013 ended Sept. 30 of $2.2 billion, an increase of 9.6 percent compared to the same period a year ago. Profit decreased 4 percent to $72.6 million.
Sales for the fourth quarter were $683.5 million, an increase of 14.3 percent compared to the same period a year ago. Organic sales increased 7.6 percent (6 percent based on the same number of business days). Profit decreased 1.8 percent to $27.4 million.
In existing markets, residential roofing product sales increased 6.5 percent, non-residential roofing product sales increased 10.1 percent and complementary product sales increased 5 percent for the quarter.
Paul Isabella, president and CEO, said strong organic demand and acquisitions drove the quarter's double-digit sales increase. “We also completed the opening of seven new branches this quarter, taking us to the total of 10 that we had targeted for 2013. Plus, we are on track to open another 15-20 additional new branches in 2014," he said.
