The 2020 Mid-Year Economic Update_long

Building Materials Holding Corp. 2Q Sales Rise 31%

Building Materials Holding Corporation, San Francisco, CA, a provider of construction services and building materials to professional residential builders and contractors, reported sales for the second quarter of 2006 increased 31% to $922 million from $702 million in the same quarter a year ago. For the six months ended June 30, 2006, sales increased 42% to $1.8 billion from $1.3 billion in the same period of 2005.


 


Net income for the second quarter of 2006 was $34.2 million compared to $33.3 million in the same quarter a year ago. For the six months ended June 30, 2006, net income was $62.2 million compared to $54.5 million in the same period of 2005.


 


Robert E. Mellor, Chairman, President and CEO, stated: v”Sales and net income for the quarter topped our record results for the same period last year.  We were pleased to have achieved an increase in net income despite a slowdown in the overall housing industry. Our growth in the second quarter reflects market share gains from recent acquisitions, as mixed regional results from continuing operations largely offset one another. During the quarter, we focused on the integration of our recent acquisitions, which have served to further extend our operations.  We are pleased that our growing range of construction services and our geographic diversity are helping to insulate BMHC from some of the impact of regional market variations in homebuilding activity.”


 


For more details on Building Materials Holding Corp. 2Q results, click here.  

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