DALLAS, Oct. 18, 2012 (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, 2012.
|Third Quarter Financial Highlights (unaudited)|
|2012||Per Share||2011||Per Share|
|Sales||$ 291.8 million||$ 217.2 million|
|Loss from continuing operations||$(12.3) million||($0.13)||$(11.5) million||($0.12)|
|Included in the calculation of loss from continuing operations:|
|Warrant fair value adjustment||$ 0.7 million||$0.01||$0.0 million||$0.00|
|Facility closure costs||$ 0.7 million||$0.00||$0.1 million||$0.00|
|Tax valuation allowance||$ 4.6 million||$0.05||$4.7 million||$0.05|
|Adjusted loss from continuing operations|
|$(6.5) million||($0.07)||$(6.7) million||($0.07)|
|Adjusted EBITDA*||$3.0 million||$(0.7) million|
|* See reconciliation attached.|
"Sales for the third quarter of 2012 were $291.8 million, an increase of 34.3 percent when compared to the third quarter of 2011. Our topline growth continues to exceed the increase in residential construction activity, as actual single-family housing starts in the South Region increased 27.7 percent over the same time period and single-family units under construction increased only 12.4 percent," said Builders FirstSource Chief Executive Officer Floyd Sherman. "For the second consecutive quarter, we reported positive Adjusted EBITDA, finishing with $3.0 million for the current quarter as compared to an Adjusted EBITDA loss of $0.7 million in the third quarter of 2011, and on a year-to-date basis, our Adjusted EBITDA has improved from a loss of $11.7 million in 2011 to positive $3.0 million in 2012."