Builders FirstSource Reports Third Quarter 2010 Results
DALLAS, Oct. 21, 2010 (GLOBE NEWSWIRE) -- Builders FirstSource, Inc. (Nasdaq:BLDR), a leading supplier and manufacturer of structural and related building products for residential new construction in the United States, today reported its results for the third quarter ended September 30, 2010.
|Third Quarter Financial Highlights (unaudited)|
|Third Quarter 2010||Diluted Per Share||Third Quarter 2009||Diluted Per Share|
|Sales||$ 180.4 million||$188.9 million|
|Loss from continuing operations||(19.7) million||$(0.21)||(15.9) million||$(0.41)|
|Included in the calculation of loss from continuing operations:|
|Tax valuation allowance||7.2 million||0.08||6.2 million||0.16|
|Adjusted loss from continuing operations||$(12.4) million||$(0.13)||$(9.7) million||$(0.25)|
|Adjusted EBITDA*||$(8.3) million||$(4.8) million|
|*See reconciliation attached.|
"The third quarter of 2010 saw a decline in housing starts as the September seasonally adjusted annual rate for U.S. single-family housing starts decreased to 452,000, down 10.8 percent from September last year. Actual U.S. single-family housing starts for the current quarter were 119,600, down 13.5 percent from the third quarter of 2009. We saw a similar level of decline in actual U.S. single-family units under construction, as they decreased 12.8 percent from the same quarter last year," said Floyd Sherman, Builders FirstSource Chief Executive Officer. "Despite the decline in building activity, our sales of $180.4 million were down just 4.5 percent from sales of $188.9 million in the third quarter of 2009."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV