Huttig Building Products Saw a Strong Third Quarter

October 29th, 2015 by Editor

Huttig Building Products Inc. reported that its third-quarter net income rose to $20.5 million, or 82 cents a share, compared with $3.5 million, or 14 cents a share, a year earlier. Sales rose to $181.7 million in the third quarter, a four-percent increase.

“We are pleased with the continued improvement in our financial performance achieved in the third quarter,” said Jon Vrabely, president and CEO. “This represents our 18th consecutive quarter of year-over-year improved performance, excluding unusual items. We were successful in growing our revenue, gross profit, and earnings while continuing to invest in our strategic initiatives to accelerate profitable revenue growth and continued improved financial performance. I

The company’s operating income in the third quarter of 2015 was $6.4 million, a 52-percent increase over operating income of $4.2 million for the prior year’s third quarter.  Adjusted EBITDA was $7.6 million in the third quarter of 2015, representing a 43% increase over the prior year’s third quarter.

Huttig, currently in its 130th year of business, distributes its products through 27 distribution centers serving 41 states. Huttig’s wholesale distribution centers sell principally to building materials dealers, national buying groups, home centers and industrial users, including makers of manufactured homes.

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