Posted February 9, 2011
Beacon Roofing Supply sales up 10.1 percent
Beacon Roofing Supply reported first-quarter sales increased 10.1% to $404.8 million in 2011 from $367.7 million in 2010.
Organic sales increased 6.6%. Non-residential roofing and complementary product sales in existing markets increased 13.6% and 12.1%, respectively, while residential roofing sales decreased 0.8%. Residential roofing sales continued to be especially weak in markets affected by storms in 2009.
Net income for the first quarter was $10.1 million compared to $7.8 million in 2010, an increase of 28.4%.
"Our first quarter 2011 results exceeded our expectations. Our commercial and complementary businesses bounced back well from low prior year levels and some of our regions experienced healthy gains in residential business as well," said Paul Isabella, president and CEO.
