Huttig Building Products, Inc., St. Louis, MO, distributor of millwork, building materials and wood products, reported a net loss for the year ended Dec. 31, 2007, of $8 million, compared with a net loss of $7.7 million in the prior year. Sales fell 21% to $874.8 million.
Sales to national accounts, representing 36% of 2007 sales, declined by 18% from 2006.
Looking ahead, most current forecasts do not expect a bottom in new housing construction until late in 2008,” CEO Jon Vrabely said. “Our continued challenge is to balance our cost reduction efforts with the need to maintain our strategic infrastructure and high service levels so that Huttig is well positioned when the market rebounds. We remain focused on doing everything we can to reduce costs, increase …
Huttig Building Products Sales Fall 21% in 2007
Huttig Building Products, Inc., St. Louis, MO, distributor of millwork, building materials and wood products, reported a net loss for the year ended Dec. 31, 2007, of $8 million, compared with a net loss of $7.7 million in the prior year. Sales fell 21% to $874.8 million.
Sales to national accounts, representing 36% of 2007 sales, declined by 18% from 2006.
Looking ahead, most current forecasts do not expect a bottom in new housing construction until late in 2008,” CEO Jon Vrabely said. “Our continued challenge is to balance our cost reduction efforts with the need to maintain our strategic infrastructure and high service levels so that Huttig is well positioned when the market rebounds. We remain focused on doing everything we can to reduce costs, increase …
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