Huttig Building Products, Inc., St. Louis, MO, a domestic distributor of millwork, building materials and wood products, reported sales for the first quarter 2007 were $222.4 million, down 21% from $281.1 million in 2006.
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That reflects a 30% drop in housing starts. Sales to national accounts for Huttig, which represented 36% of sales in the first quarter 2007, as compared with 34% last year, declined by 16%.
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Huttig reports there is no indication that the new housing construction market is likely to pick up this year, but it expects the market has stabilized. Huttig has implemented several cost reduction strategies in the past several months, including streamlining regional management from four to two groups, and closing underperforming distribution facilities in New York, Washington and Alabama.
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Huttig also plans to sell the assets of its distribution facility in Green Bay, WI.
Huttig Building Products 1Q Sales Fall 21%
Huttig Building Products, Inc., St. Louis, MO, a domestic distributor of millwork, building materials and wood products, reported sales for the first quarter 2007 were $222.4 million, down 21% from $281.1 million in 2006.
  ;
That reflects a 30% drop in housing starts. Sales to national accounts for Huttig, which represented 36% of sales in the first quarter 2007, as compared with 34% last year, declined by 16%.
  ;
Huttig reports there is no indication that the new housing construction market is likely to pick up this year, but it expects the market has stabilized. Huttig has implemented several cost reduction strategies in the past several months, including streamlining regional management from four to two groups, and closing underperforming distribution facilities ...
  ;
That reflects a 30% drop in housing starts. Sales to national accounts for Huttig, which represented 36% of sales in the first quarter 2007, as compared with 34% last year, declined by 16%.
  ;
Huttig reports there is no indication that the new housing construction market is likely to pick up this year, but it expects the market has stabilized. Huttig has implemented several cost reduction strategies in the past several months, including streamlining regional management from four to two groups, and closing underperforming distribution facilities ...
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