Universal Forest Products, Inc. (Nasdaq: UFPI), Grand Rapids, MI, reported sales for first quarter 2010 were $393.0 million, an increase of 8.7% from the same period a year ago. Profit was nearly $1 million, compared to a year ago loss of $1.2 million.
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From record cold temperatures in the Southeast to hurricane-force winds in California in January, and from record-breaking snowstorms in the Atlantic and Northeast regions to extreme precipitation in 20 states, the weather in the first quarter of 2010 in many parts of the country was not conducive to outdoor building projects, negatively affecting the company’s sales to DIY/retail (down 1.9%) and site-built customers (up 0.9%).
Sales in the industrial packaging/components segment increased 20.4% to $126 million.
Universal Forest Products, Inc. is a holding company that provides capital, management and administrative resources to subsidiaries that design, manufacture and market wood and wood-alternative products for DIY/retail home centers and other retailers, structural lumber and other products for the manufactured housing industry, engineered wood components for the site-built construction market, and specialty wood packaging and components and packing materials for various industries.
