Mr. Sherman concluded, "While interest rates remain near record-low levels, the economy is still faced with high unemployment and foreclosures that congest the new home sales pipeline. Through this, however, we are seeing some signs that point to improvements in our business. Recently, we have seen a return of certain customers that we had previously lost due to pricing. The return of these customers is due, in part, to our ability to offer a service-level that we believe is unsurpassed in the industry and which aids the customer in job-site control. Competitive pricing pressure continues, but in certain markets we saw some signs of slight easing towards the end of the year. We were able to increase our liquidity through the recent amendment to our credit facility, and previous efforts to lower our operating expense structure should make us a more efficient company going forward. Even though industry forecasters are predicting that housing conditions are expected to show improvements during 2011, the first six months of 2011 may be difficult, especially on a year-over-year comparative basis, due to the momentum created by the expiration of the federal tax credit for first-time homebuyers during the first half of 2010. We are, however, optimistic about the long-term outlook for our industry and believe Builders FirstSource is well positioned to take advantage of the recovery once it does come."Conference Call
Builders FirstSource Reports Fourth Quarter And Fiscal Year 2010 Results
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