First quarter 2013 revenues in the light building products segment increased $3.4 million, or 5%, to $76.7 million. Quarterly gross margin increased by 180 basis points to 26.3% and operating income improved by over 300% to $3.1 million. Adjusted EBITDA improved to $11.9 million from $11.3 million in 2012.We experienced revenue growth from our product groups that have primary exposure to new residential construction, particularly our stone group. In addition, our concrete block group experienced revenue growth in the quarter based on increased retail and brick sales, which also serve the residential markets. Repair and remodel end market revenue was relatively flat in the quarter, and to achieve our 2013 forecast, we are not anticipating substantial improvements. We anticipate increased raw material costs over the next several quarters, particularly in cement and polypropylene. In order to address these cost pressures, we have raised prices in some of our markets and are improving efficiencies in manufacturing.
Headwaters Incorporated Announces Results For First Quarter Of Fiscal 2013
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