November 2007

Dayton Superior Corp., Dayton, OH, provider of specialized products for the non-residential concrete construction market, reported sales for the third quarter ended Sept. 28, 2007, were $131 million, down from $132 million in the prior-year period. Profit was $386,000 versus a net loss of $342,000 in the previous year.

Sales of Dayton Superior’s concrete construction-related products increased 4% to $112 million, stemming both from higher selling prices and higher unit volume. Equipment rental revenues decreased 10% to $15 million and revenues from sales of used rental equipment also declined, both reflecting a lower level of non-residential construction activity, particularly in Florida, and in the Baltimore/Washington and Philadelphia metropolitan areas.

For the …

P & F Industries, air-powered tool and hardware manufacturer, reported sales for the quarter ended Sept. 30, 2007, were $30.3 million, down 6.1% from the same period a year ago. Profits from continuing operations were down to $343,000 from $1.5 million in the prior-year period.

The ongoing decline in new housing starts continues to adversely impact our businesses, particularly in the southern and western regions of the nation,” said President and CEO Richard Horowitz.

“In addition to this sluggish economic sector, our overall third-quarter revenues were negatively affected by competitive pressures and rising raw material prices. We maintain our belief that our hardware business should return to more profitable levels once the housing market recovers.”

P & …

Home improvement retailer The Home Depot, Atlanta, GA, reported third quarter 2007 profits of $1.1 billion, compared with $1.5 billion, or $0.73 per diluted share, in the same period in fiscal 2006.
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Sales for the third quarter were $19 billion, a 3.5% decrease from the third quarter 2006, reflecting negative comparable store sales of 6.2%, offset in part by sales from new stores.
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The sale of HD Supply was completed on Aug. 30, 2007, and the company reflects the results of HD Supply as a discontinued operation. The operating results and financial impact of the sale of HD Supply are listed as a one-line item on the income statement. Earnings from discontinued operations were $20 million, down 26.8%.
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We are facing a tough environment as …