Huttig Building Products, Inc., reported sales of $671 million for 2008, down 23.3% from 2007. The distributor of building materials recorded a year-end loss of $35.4 million, compared to a loss in 2007 of $8.2 million.
Sales decreased in all major product categories, attributable to continued significant decline in new housing activities. Wood products sales decreased 35%, while millwork sales declined 30%. The sales decline in building products (10%) was less than other segments as a result of new product initiatives put in place by the company.
Housing starts are expected to continue to be slow in 2009.
For the fourth quarter 2008, sales were $126 million, down 30% from fourth quarter 2007. A loss of $15.4 million was recorded for the quarter, …
Huttig 2008 Sales Drop 23.3%
Huttig Building Products, Inc., reported sales of $671 million for 2008, down 23.3% from 2007. The distributor of building materials recorded a year-end loss of $35.4 million, compared to a loss in 2007 of $8.2 million.
Sales decreased in all major product categories, attributable to continued significant decline in new housing activities. Wood products sales decreased 35%, while millwork sales declined 30%. The sales decline in building products (10%) was less than other segments as a result of new product initiatives put in place by the company.
Housing starts are expected to continue to be slow in 2009.
For the fourth quarter 2008, sales were $126 million, down 30% from fourth quarter 2007. A loss of $15.4 million was recorded for the quarter, …
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