Beacon Roofing Supply Inc. (NASDAQ: BECN), Herndon, VA, reported sales for the fiscal second quarter of $823.5 million, a 99.3 percent increase year-over-year. Beacon reported a loss of $5.7 million, up from a loss of $9.8 million in the prior-year quarter.
Residential roofing product sales for the quarter increased 113.1 percent, non-residential roofing sales increased 95.3 percent and complementary product sales increased 67.2 percent year-over-year.
The company's revenue jump was fueled by the $1.1 billion acquisition of Roofing Supply Group, Dallas, TX, from investment firm Clayton, Dubilier & Rice. And more acquisitions could be coming, according to President and CEO Paul Isabella.
"The acquisition pipeline is more robust than ever, and we already have made three great acquisitions to start the third quarter," he said.
For the first six months, the company reported sales of $1.8 billion, up 80 percent from the prior-year period. Profit decreased 55.2 percent to $1.4 million.
