April 26, 2007

Builders FirstSource Sales Down 30% in 1Q

Building Materials/Construction, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Builders FirstSource, Inc., Dallas, TX, a supplier and manufacturer of structural and related building products for residential new construction, reported sales of $411.1 million in the first quarter ended March 31, 2007, down 30.2% from the same period a year ago. Profit was $0.2 million.
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We continued to face very challenging market conditions during the first quarter,’ said Floyd Sherman, Builders FirstSource CEO .”The combined impact of decreased housing starts and lower market prices for lumber products reduced our sales.”
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Builders FirstSource reported a decline of 36.2% in housing activity in its markets. Also, commodity lumber and lumber sheet goods prices had a 5.7% negative effect on sales.
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The company said it …

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Smith International Sales Grow 25% in 1Q

Chemicals & Plastics Distribution, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Smith International, Inc., supplier to the oil and gas industry, reported first-quarter sales were $2.11 billion, compared with sales of $1.68 billion in the same period a year ago. Profit was $160.2 million, up from $107 million a year ago.
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Offshore business volumes accounted for 90% of the Oilfield segment revenue increase over the December quarter, impacted by demand for drilling and completion fluids, environmental solutions and borehole enlargement technologies.
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On a geographic basis, increased activity in the U.S. deepwater market and rising offshore investment in the Eastern Hemisphere region, including the North Sea, Former Soviet Union and Middle East/Asia, accounted for the majority of the sequential improvement.
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Business …

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Timken Sales Up 2% in 1Q

Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

The Timken Co., Canton, OH, reported sales of $1.28 billion in the first quarter 2007, an increase of 2% over the same period a year ago. Income from continuing operations was $41.6 million.
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Sales in Asia were up 17%.
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The Industrial Group had first-quarter sales of $544.4 million, up 8% from $503.9 million for the same period last year. Favorable pricing and higher volume drove the increase, with sales strength coming from multiple market sectors, especially aerospace and heavy industry.
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The Automotive Group’s first-quarter sales of $388 million were down 8% from $421 million for the same period last year. The decrease was driven by the sale of its steering business at the end of 2006 and lower demand from North American light vehicle and …

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Industrial Production Falls 0.2% in March

Economic Trends, Free, News, Research & Analytics, Subscriber Only, Top Distributor Sectors / MDM Staff

Industrial production decreased 0.2 percent in March after an increase of 0.8 percent in February. Output in the manufacturing sector moved up 0.7 percent in March; the increase was led by advances in the production of durable goods.
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The output of utilities dropped 7.0 percent, largely reversing its February jump of 7.6 percent, as temperatures swung from below seasonal norms in February to above seasonal norms in March.
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Mining output edged up 0.1 percent in March. At 112.5 percent of its 2002 average, overall industrial production for March was 2.3 percent above its year-earlier level.
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The rate of capacity utilization for total industry fell 0.2 percentage point, to 81.4 percent, a level 0.4 percentage point above its 1972-2006 …

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April 26, 2007

Builders FirstSource Sales Down 30% in 1Q

Smith International Sales Grow 25% in 1Q

Timken Sales Up 2% in 1Q

Industrial Production Falls 0.2% in March

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