Roofing supplies distributor Beacon Roofing Supply, Inc., Peabody, MA, reported sales in its first half were up 5.3% to $702.6 million from the same period a year ago. Growth was due to acquisitions. Sales in existing markets fell 9.8%.
Beacon recorded a net loss for the first half of $2.9 million, compared with profit of $2.5 million in 2007.
Robert Buck, CEO, said: Our second quarter sales and profits remained below our goals and we certainly are disappointed with the first half net loss. However, gross margins in our existing markets appear to be stabilizing and we are seeing additional benefits from our cost containment measures.
“We continuously evaluate the performance and projections of every one of our branches and regions as we look to …
Beacon Roofing Supply Records Net Loss in First Half
Roofing supplies distributor Beacon Roofing Supply, Inc., Peabody, MA, reported sales in its first half were up 5.3% to $702.6 million from the same period a year ago. Growth was due to acquisitions. Sales in existing markets fell 9.8%.
Beacon recorded a net loss for the first half of $2.9 million, compared with profit of $2.5 million in 2007.
Robert Buck, CEO, said: Our second quarter sales and profits remained below our goals and we certainly are disappointed with the first half net loss. However, gross margins in our existing markets appear to be stabilizing and we are seeing additional benefits from our cost containment measures.
“We continuously evaluate the performance and projections of every one of our branches and regions as we look to …
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