BlueLinx reports increase in quarterly revenues

BlueLinx reports increase in quarterly revenues

Atlanta, Georgia-based building products distributor BlueLinx Holdings Inc. reported its net sales for the fourth quarter ended December 31, 2005 totaled $1.33 billion, up 10.1 percent from $1.21 billion for the fourth quarter of 2004. The increase reflects a five percent growth in unit sales volume as well as higher year-over-year pricing. Net income for the fourth quarter was $14.5 million, or $0.48 per diluted share, compared with a net loss of $2.7 million, or $0.09 per diluted share, for the prior-year period. For the full year, net income totaled $44.6 million, or $1.46 per diluted share, compared with $74.6 million, or $2.47 per diluted share, in 2004. "BlueLinx demonstrated solid execution on our primary strategic objectives during the fourth quarter," said CEO Stephen Macadam. "We gained traction in our specialty products business, evidenced by a 12.7 percent year-over-year increase in specialty unit volume. This increase includes a 3.1 percentage point contribution from LSV, the acquisition of which reflects our strategy to supplement organic growth with targeted acquisitions." "Looking forward, we believe BlueLinx is well positioned for continued execution of our strategic growth plan as a leader in the building products distribution marketplace," said Mr. Macadam. "We anticipate market conditions will remain challenging, with 2006 housing starts expected to decline approximately 10 percentfrom 2005 levels, offset in part by a rebound in manufactured housing and continued growth in industrial markets." BlueLinx Holdings Inc. is a leading distributor of building products in North America, employing more than 3'600 people in North America. BlueLinx is also a major distributor of imported and domestic rebar.