said third-quarter earnings rose in line with Wall Street's expectations, fueled in part by sales gains across its major product categories.
The Cleveland-based company earned $24.1 million, or 18 cents a share, compared with $16.5 million, or 13 cents a share, in the year-earlier period. Results included various costs associated with a deal to combine businesses with
which was announced in July and is now expected to close on Dec. 9.
Excluding the costs, the company earned 13 cents a share, matching analysts' consensus.
Total sales increased 2% to $1.29 billion. Consolidated comparable-stores sales were up 3%. Domestic same-store sales also increased 3% on top of an 8% increase in the same period last year. The company the same-store sales increase was due to a decrease in previously planned promotional activities in the last month of the quarter, which was partially a result of the company combining with Boise Cascade.
Shares of the company were recently down 4 cents, or 0.4%, to $9.76 on the
New York Stock Exchange