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UFPI Ends 2012 With Annual Net Earnings Of $24 Million

Stocks in this article: UFPI

Residential construction

  • Fourth quarter: $74.6 million, up 60.5 percent over the same period of 2011
  • Year: $256.4 million, up 26.3 percent over 2011

While much of the sales increase was attributable to lumber prices, the Company is seeing stronger homebuilding activity in parts of the country in which it’s doing business. Nationwide, actual starts for October to December 2012 were up 35.5 percent over the same period of 2011. The Company continues to execute its strategies of growing business both with single-family and multifamily homebuilders, on providing framing services in some parts of the country, and on taking business that meets profitability and other goals that will sustain strong, steady business growth.

Commercial construction and concrete forming

  • Fourth quarter: $22.1 million, up 4.6 percent over the same period of 2011
  • Year: $90.4 million, up 15.3 percent over 2011

Universal continues to see opportunities in this business, in which it manufactures and/or supplies forms and other materials for concrete construction projects. This highly fragmented market allows Universal to leverage and capitalize on its engineering and manufacturing capabilities and nationwide presence.

“We have great confidence in our people and our strategies, and remain optimistic about our ability to grow our business at a healthy, sustained pace in the coming years,” Missad said. “We currently believe housing starts and completions will reach 1.5 million annually by 2017 and will drive broader economic expansion. With that, and given our strong position in each of our markets, we have set goals of achieving $3 billion in sales by 2017 and returning to operating margins at normal historical levels. I am optimistic we’ll achieve these goals and, once again, do what we say we’re going to do.”

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