Beacon Roofing Posts $27.9 Million Profit, Record Sales in Latest Quarter

PEABODY, MA -- Beacon Roofing Supply, Inc. announced net income for the fourth quarter of $27.9 million, on sales of $598.1 million.

Paul Isabella, the Company's President and Chief Executive Officer, stated: "We are very pleased with our record quarter and annual 2012 results, which exceeded our expectations. Our total sales benefited from the positive impact of acquisitions and from a 6% increase in existing market sales for the year. The adjusted fourth quarter net income exceeded last year's adjusted net income, even though we were facing a very challenging comparison to last year's fourth quarter, when there were substantial roofing activities from hail storms. Our gross margin continued to improve over the prior year, and our annual operating margin was significantly higher than in 2011. We are confident in the long-term growth opportunities available in our industry and are actively investing to realize those opportunities, such as with our most recent acquisition of McClure-Johnston."

In existing markets, residential and non-residential roofing product sales decreased 3.3% and 10.5%, respectively, while complementary product sales increased 1.2%. This year's fourth quarter sales were primarily impacted by lower roofing activity in the markets affected by last year's hail storms, partially offset by the benefit of slightly higher overall average selling prices.

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Beacon Roofing Posts $27.9 Million Profit, Record Sales in Latest Quarter