BlueLinx Announces Preliminary Fourth-Quarter And Full Year Results

ATLANTA, Jan. 10, 2013 (GLOBE NEWSWIRE) -- BlueLinx Holdings Inc. (NYSE:BXC), a leading distributor of building products in North America, expects to report a fourth-quarter net loss per diluted share in the range of $0.16 to $0.22 based on the Company's preliminary unaudited results for the fourth quarter ended December 29, 2012, compared to a net loss of $0.17 per diluted share for the fourth quarter of fiscal 2011. Revenue for the fourth quarter is expected to be approximately $440 million, an increase of 12.5% from $391.1 million for the fourth quarter of fiscal 2011. Gross profit margin for the quarter is expected to be approximately 11.9%, compared with 12.3% for the fourth quarter of fiscal 2011. Net loss included a pre-tax net gain of $0.2 million, or $0.00 per diluted share, and $3.9 million, or $0.07 per diluted share, from significant special items in the fourth quarter of 2012 and 2011, respectively.

For the full year ended December 29, 2012, the Company expects to report a net loss per diluted share in the range of $0.35 to $0.41, compared to a net loss of $0.89 per diluted share in fiscal 2011. Revenues are expected to be approximately $1.91 billion for the full year ended December 29, 2012, an increase of 8.5% from $1.76 billion for the year ended December 31, 2011. Gross profit margin for fiscal 2012 is expected to be approximately 12.1%, compared with 12.0% in fiscal 2011. Net loss included a pre-tax net gain of $10.4 million, or $0.17 per diluted share, and $12.6 million or $0.29 per diluted share, from significant special items in fiscal 2012 and fiscal 2011, respectively.

Based on the Company's preliminary unaudited results, as of December 29, 2012, revolving credit facilities and mortgage indebtedness totaled approximately $171.4 million and $209.6 million, respectively. As of December 31, 2011 revolving credit facilities and mortgage indebtedness totaled approximately $94.5 million and $243.3 million, respectively. Excess availability under the Company's revolving credit facilities as of December 29, 2012 is expected to be approximately $86.6 million, compared to $118.3 million as of December 31, 2011.

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