DALLAS, July 25, 2013 (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 second quarter ended June 30, 2013. Highlights include the following (see financial schedules for more information, including non-GAAP reconciliations):
- Second quarter 2013 sales increased 46.4 percent to $398.1 million compared to the second quarter of 2012.
- Operating income was $13.2 million, up over $14 million when compared to an operating loss of ($1.4) million for the second quarter of 2012.
- Adjusted EBITDA was $16.7 million, a $14.6 million improvement compared to Adjusted EBITDA of $2.1 million for the second quarter of 2012.
- The company completed a $350 million senior secured notes offering in May 2013, lowering its annual cash interest by approximately $16 million on a go-forward basis.
- The company also entered into a new $175 million revolving credit facility providing incremental liquidity for the continuing housing market recovery.
- As a result of the refinancing, the company improved liquidity by approximately $67 million. Total liquidity as of June 30, 2013 was $170.3 million.