Builders FirstSource: 3.8% Growth in 2Q
Builders FirstSource, Inc., Dallas, TX, supplier and manufacturer of structural and related building products for residential new construction, reported sales grew 3.8% in the second quarter to $642.4 million. Net income was $28.4 million compared with $20.2 million the same period last year. Adjusting for items related to the company's IPO, net income was $23 million, a $23.6% increase year-over-year.
On April 28, 2006, the company acquired Freeport Truss Company and Freeport Lumber Company for cash consideration of approximately $27 million. Freeport's results of operations are included in the company's consolidated financial statements from the acquisition date.
Even though an unfavorable housing market had an overall negative impact on ...