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Cannon Roofing LLC is demolishing its former headquarters on East Kennedy Street. Company officials hope demolishing the buildings will encourage buyers looking for space in downtown Spartanburg.
A vacant industrial site in downtown will soon be razed to spark development.
Cannon Roofing LLC will invest an undisclosed amount to demolish its former headquarters at 327 E. Kennedy St.
The property encompasses almost 4.5 acres and houses an office and two warehouses. The office was built in 1943. The warehouses were completed in 1948 and 1964, according to county records.
Cannon Roofing established its home office at the site when the company opened in 1951. The company recently moved to its new headquarters off Interstate 85 at 283 Vintage Drive.
Bill Hamilton, vice president of Cannon Roofing, said the downtown facility was completely deactivated at the end of December and put up for sale. He said the company chose to demolish the existing structures in hopes of attracting new development to the site.
The buildings have reached the end of their use and we made the decision to go ahead and demolish them, Hamilton said. It's a large tract a great opportunity for someone to come in and do something very exciting.
Hamilton said the project is expected to begin late this week or early next week depending on weather conditions.
The site is behind the Episcopal Church of the Advent between Real Estate Way and Advent Street, and East Kennedy and East Henry streets.
Hamilton said he thinks the property's proximity to prominent buildings and facilities, such as the Piedmont Club, Smithworks Jewelers, Spartanburg Community College's new Evans Academic Center, Pine Street YMCA and others, make it an attractive property.
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Cannon Roofing to demolish former site in downtown Spartanburg
Honolulu Roofing Contractors Call Now 808 3776572 Honolulu Roofing Contractors
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Honolulu Roofing Contractors Call Now 808 3776572 Honolulu Roofing Contractors - Video
Roofing Contractors of Vermont (802) 891-4840 VT Roofing
http://roofingcontractorsvermont.com (802) 891-4840 Roofing Contractors of Vermont (802) 891-4840 VT Roofing Roof Replacements, Roof Repairs, Shingle Roof Replacements, Standing Seam Metal...
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Roofing Contractors of Vermont (802) 891-4840 VT Roofing - Video
Beacon Roofing Supply, Inc. ( BECN ) reported earnings per share of 54 cents in the third quarter of fiscal 2014 (ended Jun 30, 2014), a 2% year-over-year decline, on May 9. Earnings also fell short of the Zacks Consensus Estimate of 59 cents. Lower gross margins from reduced selling prices due to weak demand and a continued unfavorable shift in sales mix to lower margin direct shipment and commercial business resulted in the year-over-year decline in earnings. However, this marked a significant turnaround from the loss per share of 25 cents recorded in the second quarter of fiscal 2014.
Beacon Roofing Supply, Inc - Earnings Surprise | FindTheBest
Operational Update
Total revenue increased 6% year over year to a record $663 million but lagged the Zacks Consensus Estimate of $665 million. Non-residential roofing product sales increased 9.7% followed by a 6.4% rise in complementary product sales while residential roofing products sales went up 2.7%.
Cost of goods sold went up 7% year over year to $512 million. Gross profit was $151 million, compared with $147 million in the year-ago quarter. Gross margin contracted 80 basis points (bps) from the prior-year quarter to 22.7% primarily due to continued price pressure along with increased mix of commercial and direct ship business that typically carry lower margins.
Operating expenses for the quarter increased 6% year over year to $105 million. However, as a percentage of sales, operating expenses remained flat at 15.8% due to continued cost controls and sales base growth despite the company investing $5 million in new stores to expand its footprint in the existing as well as new markets. The company posted an operating profit of $46 million, down 4% from $48 million in the prior-year quarter.
Financial Position
As of Jun 30, 2014, Beacon Roofing had cash and cash equivalents of $26 million, flat compared with Jun 30, 2013. Total debt was $227 million as of Jun 30, 2014 against $225 million as of Jun 30, 2013. The debt-to-capitalization ratio was at 27% as of Jun 30, 2014, flat with Jun 30, 2013, figure.
Cash used in operations was $47 million for the nine-month period ended Jun 30, 2014, compared with cash inflow of $49 million in the prior-year comparable period. This was due to seasonal increases in accounts receivable balances driven by increased sales during the third quarter of 2014, as well as increased inventory levels.
2014 Outlook
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Beacon Roofing Misses Q3 Earnings on Lower Gross Margin - Analyst Blog
KANSAS CITY, KAN. ----- More than 1,000 roofing contractors registered to do business in Kansas in the first 14 months of the new Roofing Contractor Registration Act, Kansas Attorney General Derek Schmidt said today.
The attorney generals office issued its 1,000th roofing registration certificate last week. Some roofers that initially registered have failed to renew their registration as required by law; consequently, while more than 1,000 registrations have been approved, the number of actively registered roofers who may lawfully do business in Kansas now stands at 926.
When considering roofing work on a home or business, it is important that consumers make sure their roofing contractor is properly registered before signing any contract or having any work done, Schmidt said. Consumers should request a copy of their roofers registration certificate and then should check our consumer protection website to confirm that the registration remains active.
The requirement to register with the attorney generals office is in addition to any other local requirements that may be imposed by cities or counties. The online directory of registrations is available at http://www.InYourCornerKansas.org.
The Kansas Roofing Contractor Registration Act was passed during the 2013 legislative session and took effect July 1, 2013.
With few exceptions, the law requires roofing contractors to obtain a registration certificate from the Kansas Attorney General in order to legally provide commercial or residential roofing services for a fee in Kansas.
It is designed to ensure that legitimate roofing contractors are complying with state requirements, such as carrying appropriate insurance, and to help prevent fly-by-night operators from taking advantage of Kansas consumers.
Any Kansans who have problems with roofing contractors may file a request for the attorney generals Consumer Protection Division to investigate at (800) 432-2310 or http://www.InYourCornerKansas.org.
The attorney general requests that Kansans promptly report any unregistered person or company attempting to sell roofing services.
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Schmidt: Roofer registration tops 1,000
MGN Online
TOPEKA, Kan. -- More than 1,000 roofing contractors registered to do business in Kansas in the first 14 months of the new Roofing Contractor Registration Act.
The attorney generals office issued its 1,000th roofing registration certificate last week. But some roofers that initially registered have failed to renew their registration as required by law.
While more than 1,000 registrations have been approved, the number of actively registered roofers who may lawfully do business in Kansas now stands at 926.
When considering roofing work on a home or business, it is important that consumers make sure their roofing contractor is properly registered before signing any contract or having any work done, Attorney General Derek Schmidt said. Consumers should request a copy of their roofers registration certificate and then should check our consumer protection website to confirm that the registration remains active.
The requirement to register with the attorney generals office is in addition to any other local requirements that may be imposed by cities or counties.
The online directory of registrations can be found by CLICKING HERE
The attorney general requests that Kansans promptly report any unregistered person or company attempting to sell roofing services.
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More Than 1,000 Roofers Register With Kansas AG's Office
Merced City School maintenance worker Steve Guzman spreads wood chips evenly over the playground with a rake, at Sheehy Elementary School in Merced on Wednesday (8-6-14). CHRISTOPHERWINTERFELDTcwinterfeldt@mercedsun-star.com
The laundry list of summer tasks to get Merced schools ready for the new school year is still long, but maintenance crews have been steadily whittling it down.
The end result will be worth all the turmoil and work when students return Aug. 18, said Ken Testa, director of facilities for the Merced City School District.
Testa said the 18-member roving maintenance crew is like a football team in the middle of intense double days practice in the hot summer sun right now.
It is challenging but were doing it as a team, Testa said. They know game time is coming. The payoff is when things are clean, mowed, painted and theyre ready.
The districts summer projects list at 20 sites throughout the Merced area includes painting the exterior of Charles Wright Elementary School, reroofing Alicia Reyes Elementary School, resurfacing about 25 ramps leading up to portables at various schools and replacing carpets in 16 classrooms districtwide.
Crews also were installing 85 security screens on classroom windows and adding or updating security motion detectors in most classrooms districtwide.
Fencing around Franklin Elementary School and the Community Day School also is being replaced. The Student and Family Services Center near Clark Preschool also was repainted.
Maintenance crews have installed more than 700 yards of playground fall-safe materials and more than 21 tons of rubber nuggets in playground areas.
They also are completing the installation of Chromebook carts and computers in all third- through eighth-grade classrooms and replacing XP computers at all sites throughout the district, according to Greg Spicer, associate superintendent for administrative services.
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Roofing, repainting, floor refurbishing part of summer school maintenance
Commercial Roof Tile Restoration Adelaide - Contact AdelaideRoofRepairscom now at 08 7100-1655
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Roof Replacement Adelaide - Contact AdelaideRoofRepairscom now on 08 7100-1655
http://adelaideroofrepairs.com Roof Replacement in Adelaide AdelaideRoofRepairs.com is prepared to help you with any and all your roofing in Adelaide requires. We can provide you having a...
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Roof Replacement Adelaide - Contact AdelaideRoofRepairscom now on 08 7100-1655 - Video