July 24, 2009

Dallas, TX-based Builders FirstSource, Inc., supplier and manufacturer of structural and related building products for residential new construction in the U.S., reported sales for the second quarter ended June 30, 2009, were $175.5 million, down 37.8% from $282.3 million in the prior-year period. Sales volume dropped 33%. Builders FirstSource noted a gain from multifamily and light commercial sales.

The net loss for the quarter was $22.6 million.

The severity and prolonged nature of the housing downturn has forced substantial capacity reduction within our industry. Several of our largest competitors filed for bankruptcy protection during the quarter, and we were forced to make the tough decision to discontinue our Ohio operations," said CEO Floyd Sherman. "This decision was not ...

The Black & Decker Corp., Towson, MD, reported sales fell 27% in the second quarter 2009 to $1.2 billion. Profit was $38.3 million, down from $96.7 million in the prior-year period. The company reported extremely weak" demand in its end-markets for the quarter.

Sales in the company's Power Tools and Accessories segment fell 21% in the second quarter. U.S. Industrial Products Group sales fell 30% due to declines in both the residential and non-residential areas.

Sales increased at a high single-digit rate in the U.S. Consumer Products Group, with strong shipments of lawn and garden products and the new Porter-Cable line outweighed decreases in other categories.

European sales decreased 30%, similar to the first-quarter trend, with a particularly sharp decline in Eastern Europe. ...