Huttig Building Products, Inc., St. Louis, MO, a domestic distributor of millwork, building materials and wood products, reported sales for the third quarter ended Sept. 30, 2008, declined 22% to $182.8 million in a year-over-year comparison. The company reported a loss of $7.7 million, compared to a loss of $0.1 million in third quarter 2007.
Third quarter sales continued to be impacted by the 32% year-over-year decline in average annualized housing starts for the quarter, to approximately 0.88 million, from 1.30 million in the 2007 third quarter. Operating results reflected $2.0 million of branch shut down costs and related inventory write down and liquidation charges associated with the closing of the Springfield, MO and Fredericksburg, VA branches.
Despite …
Huttig Reports $7.7 million Loss for 3Q
Huttig Building Products, Inc., St. Louis, MO, a domestic distributor of millwork, building materials and wood products, reported sales for the third quarter ended Sept. 30, 2008, declined 22% to $182.8 million in a year-over-year comparison. The company reported a loss of $7.7 million, compared to a loss of $0.1 million in third quarter 2007.
Third quarter sales continued to be impacted by the 32% year-over-year decline in average annualized housing starts for the quarter, to approximately 0.88 million, from 1.30 million in the 2007 third quarter. Operating results reflected $2.0 million of branch shut down costs and related inventory write down and liquidation charges associated with the closing of the Springfield, MO and Fredericksburg, VA branches.
Despite …
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