The 2020 Mid-Year Economic Update_long

BlueLinx Reports Net Loss for 2007

BlueLinx Holdings Inc., Atlanta, GA, distributor of building products in North America, today reported a net loss for the fourth quarter and full year ended Dec. 29, 2007. In the full year, the net loss was $27.9 million, compared with profit of $15.8 million in the prior year.
 
Sales for the year totaled $3.8 billion, down 21.7%, reflecting lower unit volume and lower underlying prices for both structural and specialty products versus the comparable prior year period.
 
We continue to pursue our strategy while also taking proactive measures to adjust our cost structure to the current business climate," said CEO Stephen Macadam. "The actions we took during the fourth quarter demonstrate our commitment to aggressively managing costs and working capital in this ...

BlueLinx Holdings Inc., Atlanta, GA, distributor of building products in North America, today reported a net loss for the fourth quarter and full year ended Dec. 29, 2007. In the full year, the net loss was $27.9 million, compared with profit of $15.8 million in the prior year.
 
Sales for the year totaled $3.8 billion, down 21.7%, reflecting lower unit volume and lower underlying prices for both structural and specialty products versus the comparable prior year period.
 
We continue to pursue our strategy while also taking proactive measures to adjust our cost structure to the current business climate,” said CEO Stephen Macadam. “The actions we took during the fourth quarter demonstrate our commitment to aggressively managing costs and working capital in this reduced-demand environment. … I remain confident that we will continue to execute on our strategy throughout this cyclical downturn and grow our company as a leading national distributor of specialty building products.”
 
Sales in the fourth quarter were down 17.2% to $778.9 million, reflecting a 19.6% drop in structural product sales and a 17.1% decline in specialty products, both associated with the softness in the housing market. Overall unit volume for the company’s estimated end-use markets declined 13% for the period.
 
In the fourth quarter, BlueLinx saw a net loss of $34.1 million, compared with a net loss of $5.9 million the prior-year period.
 
BlueLinx, operating through its wholly owned subsidiary BlueLinx Corp., is a distributor of building products in North America. BlueLinx offers more than 10,000 products from over 750 suppliers to service 11,500 customers nationwide, including dealers, industrial manufacturers, manufactured housing producers and home improvement retailers.

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