MALVERN, Pa.--(BUSINESS WIRE)--

Demand for commercial roofing in North America is projected to increase by $480 million over the next three years from, 6 million square feet valued at $4.8 billion in 2011, to 6.6 million square feet valued at $5.3 billion in 2014. Total commercial roofing demand will increase by $480 million from 2011 to 2014, led by liquid-applied roofing and single-ply roofing.

Principia has released its multi-client edition on Commercial Roofing 2012, an exhaustive market report that reveals key market data organized for strategic marketing and business planning. Principia conducted direct interviews with 500 professionals representing building product manufacturers, wholesalers, distributors, dealers, builders, contractors and installers.

According to John Calhoon, Principal at Principia, The industry faces the challenge of developing products and systems to meet stricter building codes and energy conservation guidelines while continuing to meet property owner expectations for performance. Therefore, products and systems are being developed for high performance, reflectivity, and increased insulation in order to provide opportunities for systematic energy efficiency gains.

The report identifies best growth opportunities through 2014, strategies for value creation and competitive advantage, and the changes in distribution channels serving the commercial roofing market. The report also provides business insights on:

The report also includes a unique interactive Market Model and Forecasting Tool that allows subscribers to model hypothetical market performance based on their own assumptions of metrics such as housing starts, the timing of new legislation and other factors using the data compiled in the report.

About Principia

Principia serves the building products industry through products and services aimed at profitable growth, helping clients grow market share and revenues and improve margins. Services include strategy consulting, market research, and industry conferences and reports. Principia is headquartered in suburban Philadelphia, with offices and affiliates worldwide. See PrincipiaReports.com, and PrincipiaConsulting.com.

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Commercial Roofing Market to Reach $5.3 Billion in 2014 According to New Report from Principia

PORTLAND, OR (KPTV) -

Police are investigating two recent reports of a roofing scam targeting the elderly in southeast Portland.

In both incidents, reported in June, a pair of men approached homeowners and claimed to notice a problem with the roof. The men offered to fix it, asked for payment in cash and one of the men rode along with the victim to the bank to get the money.

"I just felt like I was scum, you know, just scum," said Elma Matocha, who paid the pair around $7,500 in mid-June.

She said the two men, one older and one younger, walked into the house.

"He acted like he knew us, you know, how you doing? Your roof's been fine?' But he says, I see a bubble,'" she said.

Based on the way he acted, Matocha thought he was the person who once worked on the roof of her house on SE Lincoln Street. She followed the two men upstairs into the attic.

She said the men pointed out water on the wall and floor. Some of it was on some family heirlooms stored in the attic.

Then came the sales pitch.

"They said, we have a job down the street that way and a job down the street this week,'" recalled Matocha. "He said, this isn't a very big job, so we can get this done.' Acting like he knew us."

Link:
Roofing scam targets elderly in Portland

by Yunus Yussop, reporters@theborneopost.com. Posted on August 18, 2012, Saturday

TIMELY: Laing (seventh left) presents to TR Chendang documents representing the official handover event as part of the companys CSR programme, as Stephen (fourth right) and others look on.

BINTULU: Much to the relief of the residents of 19-door Rumah Chendang Anggau longhouse near Tatau, Bintulu, they received roofing sheets worth RM36,000 donated by Hormat Pasifik Sdn Bhd, an oil palm plantation company operating nearby.

Plantation managers Laing Ngau and Charles Sibat handed over the roofing sheets to longhouse chief Tuai Rh Chendang Anggau during a simple ceremony held recently.

Stephen Sani, the companys project manager said the donation was one of many corporate social responsibility (CSR) programmes undertaken by members of the KTS Group of Companies.

It also upholds the We care, We grow, spirit of the slogan of KTS 50th anniversary celebration.

The residents here have been very cooperative to the company and the act is a token of our appreciation.

Ample job opportunities will be made available once the palm oil mill nearby commences operation by 2014.

Local residents will then be able to sell their fresh fruit bunches without incurring additional transportation costs, Stephen added.

Meanwhile, longhouse chief Chendang Anggau, 52, thanked the company for their continuous support and assistance.

Continued here:
Plantation company donates roofing material to longhouse

OAKLAND -- The president of an Oakland roofing company was sentenced to two years in prison after pleading guilty for conspiring to cheat the Internal Revenue Service, authorities said Thursday.

Tae Son Lee, also known as Mike Lee, 52, the president of Westco Roofing Inc., also was ordered by U.S. District Court Judge Phyllis J. Hamilton to pay a $367,656 fine, according to Melinda Haag, the U.S. Attorney for the Northern District of California.

Lee pleaded guilty in April to the conspiracy charge that was part of a 50-count indictment handed down in 2010. He admitted to being the sole shareholder in Westco Roofing and that he established several "shell companies" between 2003 and 2008 that he used to impede the IRS in its assessment and collection of Social Security and Medicare taxes.

Shell companies are companies that exist but don't do business or generate any assets.

Lee, according to the plea agreement, made "subcontractor" payments to these companies and used the companies' bank accounts to pay employees of Westco Roofing. Social Security and Medicare taxes were not removed from those checks, authorities said.

Lee is scheduled to begin his sentence Nov. 5.

Rick Hurd covers crime. Contact him at 925-945-4780 and follow him at Twitter.com/3rdERH.

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Oakland roofing company president sentenced for tax fraud

Referenced Stocks: BECN, EPS

Beacon Roofing Supply, Inc. ( BECN ) reported record third-quarter 2012 adjusted earnings per share (EPS) of 62 cents, comfortably beating the Zacks Consensus Estimate of 56 cents and 22% higher than the year-ago quarter level. Including special items, EPS in the quarter stood at 53 cents, up 4% year over year from 51 cents. Increase in sales, driven by acquisitions, and gross margin contributed to the growth. However, the positives were partially offset by higher operating expenses and income tax provision as compared with 2011.

Operational Update

Total revenue increased 4% year over year to $560.5 million, benefiting from acquisitions. However, reported revenue lagged the Zacks Consensus Estimate of $584 million. Organic growth declined 1.5% in the quarter.

In existing markets, residential roofing product sales increased 1.7% while non-residential roofing and complementary product sales declined 4.9% and 3.0%, respectively. The last year quarter benefited from substantial roofing activities based on the hail storms in spring 2011. Furthermore, warmer winter conditions this year led to higher roofing and exterior remodeling activities in the second quarter that otherwise would have been performed in the third quarter.

Cost of goods sold increased 1.4% to $419.7 million in the quarter. Gross profit rose 11% to $140.7 million. Operating income in the reported quarter improved to $51.3 million from $43 million in the year-ago quarter.

Financial Position

Cash and cash equivalents were $31.2 million as of June 30, 2012, compared with $171.1 million as of March 31, 2012. Total debt amounted to $608.5 million as of June 30, 2012, compared with $580.4 million as of March 31, 2012. Debt to capitalization ratio improved to 31.5% as of June 30, 2012 from 35.3% as of March 31. 2012.

Cash inflow from operating activities was $35.3 million during the first nine months of 2012 compared with $37.7 million in the comparable period last year. Cash flows in the first half of 2012 were positively impacted by higher net income and non-cash charges, partially offset by less favorable changes in working capital.

Our Take

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Record Quarter for Beacon Roofing - Analyst Blog

Beacon Roofing Supply, Inc. (BECN) reported record third-quarter 2012 adjusted earnings per share (EPS) of 62 cents, comfortably beating the Zacks Consensus Estimate of 56 cents and 22% higher than the year-ago quarter level. Including special items, EPS in the quarter stood at 53 cents, up 4% year over year from 51 cents. Increase in sales, driven by acquisitions, and gross margin contributed to the growth. However, the positives were partially offset by higher operating expenses and income tax provision as compared with 2011.

Operational Update

Total revenue increased 4% year over year to $560.5 million, benefiting from acquisitions. However, reported revenue lagged the Zacks Consensus Estimate of $584 million. Organic growth declined 1.5% in the quarter.

In existing markets, residential roofing product sales increased 1.7% while non-residential roofing and complementary product sales declined 4.9% and 3.0%, respectively. The last year quarter benefited from substantial roofing activities based on the hail storms in spring 2011. Furthermore, warmer winter conditions this year led to higher roofing and exterior remodeling activities in the second quarter that otherwise would have been performed in the third quarter.

Cost of goods sold increased 1.4% to $419.7 million in the quarter. Gross profit rose 11% to $140.7 million. Operating income in the reported quarter improved to $51.3 million from $43 million in the year-ago quarter.

Financial Position

Cash and cash equivalents were $31.2 million as of June 30, 2012, compared with $171.1 million as of March 31, 2012. Total debt amounted to $608.5 million as of June 30, 2012, compared with $580.4 million as of March 31, 2012. Debt to capitalization ratio improved to 31.5% as of June 30, 2012 from 35.3% as of March 31. 2012.

Cash inflow from operating activities was $35.3 million during the first nine months of 2012 compared with $37.7 million in the comparable period last year. Cash flows in the first half of 2012 were positively impacted by higher net income and non-cash charges, partially offset by less favorable changes in working capital.

Our Take

Beacon Roofings growth strategy largely depends on acquisitions, which has been the primary growth driver since its inception. Backed by its strong balance sheet, the company has recently acquired Structural Materials Company in Southern California in early July and Contractors Roofing & Supply Co. in St. Louis. The company is seeking other acquisition opportunities to enhance its growth profile. Furthermore, demand for re-roofing is also on the rise providing ample scope for Beacon to expand in this market.

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Record Quarter for Beacon Roofing

DENVER, CO--(Marketwire -08/07/12)- Today many roofing contractors lack the technology to pull the various forms of software together that they use, such as QuickBooks, aerial CAD measurements, software to interface with and query the customer database, word processing, estimating and project management. 3C Network (www.3C.com), a full-service technology and business solutions provider supporting roofing contractors, has integrated the spectrum of roofing technologies into a "3C Hub" (www.Hub.3C.com) to create a seamless user interface that bolsters contractors' speed, accuracy and results.

Contractors can now go from inspection and estimating to ordering/scheduling materials, managing margins and billing using the 3C Hub interface. Additionally, 3C Hub has options to order 3C Network-backed limited warranties, online training and safety equipment.

3C Hub was designed with a private, cloud-based interface optimized for use in the field or the office, or with tablets and smart phones. Integrated data is stored in the cloud and not tied to a single laptop, iPad or smart phone.

Busy contractors will welcome the ability to use their mobile devices to collect on-site information and photos, consume aerial CAD measurements and interact with a rules engine to check for local codes, regulations and insurance requirements. With comprehensive data at their fingertips, contractors can reduce or eliminate unnecessary insurance supplements.

"We made 3C Hub available to contractor members of 3C Network to access the full range of products and services, which are also available in menu form to non-members who are seeking specific individual services," said L.C. Nussbeck, CEO of 3C Network. "Our mission is to raise sales and production standards in the roofing industry, and strengthen the levels of communication and trust with insurance companies and consumers, so that everyone wins."

3C Network stands for Consumers, Contractors and Carriers Network and was formed in 2011 to be a catalyst for roofing contractors to better serve consumers while improving their productivity and profitability. Technology solutions include free cloud-based roofing management software that integrates aerial CAD measurement, inspection and estimating tools and a dashboard to manage margins and more. Contractor business solutions offer online training and certification and no-hassle limited warranties on all materials and workmanship. For more information about 3C Network, visit http://www.3C.com or call 855-3C-MEMBER or 855-326-3623.

Documents and/or Photos available for this release:

3C Hub Dashboard Interface for Roofing Contractors

To view supporting documents and/or photos, go to http://www.enr-corp.com/pressroom and enter Release ID: 335107

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3C Network Launches 3C Hub to Help Roofing Contractors Steer Sales and Operations

TREMONT, Maine A dispute over payment for materials used in a roofing project on the local school has been settled, according to the town manager.

Millard Billings, Tremonts town manager, said Monday that the town and Viking Lumber have signed an agreement to settle the matter for $11,000. Viking had placed a lien for $25,692 on the school for the materials.

Its been settled, Billings said. They [Viking] are doing a release deed on the lien.

Last fall, Viking, Inc. placed liens on the Tremont school and three other buildings in Maine that had been re-roofed by the same contractor. Blue Hill Consolidated School, the town office in Hancock and a low-income housing building in Skowhegan all had materials on them for which Viking had not been paid, the building supply company alleged.

According to documents filed last fall in the Hancock County Registry of Deeds in Ellsworth, Viking Lumber had placed liens of $5,056.99 on the school in Blue Hill and $4,540.98 on the Hancock town office.

School officials in Tremont have said they hired Darren Stover to do the work and that they paid approximately $46,000 for the project. Stover allegedly led the property owners to believe that he was working for Northeast Facilities Management of Bangor.

But in a letter sent last Nov. 10 to municipal officials, Bangor attorney Seth Harrow indicated that the management company had no involvement with the alleged lack of payment to Viking Lumber.

I write to inform you that my client, Northeast Facilities Management Inc., had nothing to do with this situation and it is our opinion it has been wrongly associated with this situation due to fraud perpetuated by a Darren Stover, Harrow wrote in the letter. My client essentially does landscaping and plowing. It does not perform nor has it ever done roofing work.

According to Harrow, Stover may have falsely indicated to Viking that he was associated with Northeast Facilities Management in order to be approved for a line of credit by the lumber company.

Harrow said Monday that Stover never worked for his client and that NFM had no knowledge of the roofing projects until Viking sought payment for the materials it had given Stover.

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Towns settle with Viking Lumber over roofing materials

PEABODY, Mass.--(BUSINESS WIRE)--Reissuing release to add ticker symbol for searching purposes.

The release reads:

BEACON ROOFING SUPPLY REPORTS THIRD QUARTER 2012 RESULTS

Beacon Roofing Supply, Inc. (the Company) (NASDAQ: BECN) announced results today for its third quarter and nine months ended June 30, 2012 of the fiscal year ending September 30, 2012 (fiscal 2012).

Paul Isabella, the Companys President & Chief Executive Officer, stated: We are very pleased with our record quarter and year-to-date results, which, after adjusting for special charges, significantly exceeded our expectations once again. Most of our regions are having an exceptional year. Our total sales have benefited from the positive impact from acquisitions, while our sales in existing markets for the third quarter fell only 1.5%. Sales in our existing markets were up against a very strong 11.6% increase in last years third quarter, when there was substantial roofing activities beginning in June from the Spring 2011 hail storms. In addition, the much warmer winter conditions this year brought some roofing and exterior remodeling activities into our second quarter that would have otherwise been performed in our third quarter. Year-over-year price increases in our industry flattened in the third quarter but average selling prices were still slightly higher than last year. Our gross margin and operating margin continued to improve. Our new credit facility and strong balance sheet are enabling us to accelerate our growth, as we did with our most recent acquisitions of Structural Materials Company in Southern California in early July and Contractors Roofing & Supply Co. in St. Louis last week. We are confident that we will add other quality companies in the near future that fit our target acquisition profile. Although we will be up against tough comparisons again in the fourth quarter, we expect a solid finish to fiscal 2012.

Third Quarter

Total sales increased 3.7% to $560.5 million in 2012 from $540.7 million in 2011. Existing market (organic) sales, which exclude branches acquired after the beginning of last years third quarter, declined 1.5%. In existing markets, residential roofing product sales increased 1.7%, while non-residential roofing and complementary product sales decreased 4.9% and 3.0%, respectively. This years third quarter sales were primarily impacted by lower non-residential roofing activity and less residential roofing activity in the markets affected by last Springs hail storms, partially offset by the benefit of higher average selling prices.

Net income for the third quarter was $25.4 million compared to $24.1 million in 2011. Third quarter diluted net income per share was a record $0.53 compared to $0.51 in 2011. The higher net income was due to the higher sales and gross margin rate, partially offset by the impact from certain charges, higher operating expenses and a higher income tax provision compared to 2011. Earnings in the third quarter of fiscal 2012 were impacted by the following charges: $4.9 million ($3.0 million net of tax), or approximately $0.06 diluted earnings per share, for the recognition of the fair value of certain interest rate derivatives and other charge in interest expense and other financing costs resulting from the Companys refinancing in April 2012; and $1.3 million, or approximately $0.03 diluted earnings per share, from the increase in the liability for consideration due for the Enercon acquisition.

Earnings before interest, taxes, depreciation and amortization, and stock-based compensation (Adjusted EBITDA), which are reconciled to the net income in this press release, were $60.2 million in 2012 compared to $50.8 million in 2011, an 18.4% increase.

Nine Months

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Beacon Roofing Supply Reports Third Quarter 2012 Results

FREMONT, Calif.--(BUSINESS WIRE)--

PetersenDean Roofing and Solar announced today that it would offer roof top solar power to home-builders for a buck a watt, as long as the builders hired PetersenDean to build both the roofs and solar power systems for the entire project. The other condition is that the entire community must be solar powered as well.

Standing at his new corporate headquarters in Fremont, California. CEO Jim Petersen announced the campaign and stated that since the soft launch in July 2012, more than ten builders in California have signed up for the program and Petersen expects to take the national lead in solar power with this new program within the next two quarters.

Look, PetersenDean has a major advantage here, we are already providing the roofing systems for these homes, so we are already on site and our workers are already on the roofs, so the advantage here is overwhelming relative to our competitors. We intend to make a very small margin on the solar power systems, so as to bring our vision of solar power to the masses, regardless of income level. The cost of the systems will literally be a buck a watt to the home-builders in California, said Jim Petersen.

The real beneficiaries will be the end users (home-buyers) because in California, the Investor Owned Utilities (IOUs) are charging up to .35 cents a Kilowatt hour for electricity. With a PetersenDean roof top solar power system, coupled with PetersenDeans smart roof, electricity rates should be under ten cents per KWH and this is what excites Jim Petersen.

Think about it for a moment, not only will end-users be able to have a best-in-class smart roof, but they will be able to make their own electricity at very cheap rates and best of all, they will own the solar power system outright, which will add value to their investment and not put them in a solar power lease, which could have troubling consequences at the end of the lease term, said Petersen.

PetersenDean intends to formally launch the program and announce a new partnership with Builder and Developer magazine in early September 2012. However, interested builders can go use the buck a watt stops here program now by simply contacting PetersenDean at 1-800-564-0362 or at http://www.petersendean.com

About PetersenDean: PetersenDean is the nations largest privately held roofing and solar power company, providing smart roofs, and solar power systems. PetersenDean recently ranked 13th in size, as the largest privately held company (overall) in Silicon Valley by Silicon Valley Business Journal.

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PetersenDean Roofing and Solar Set to Launch “The Buck a Watt Stops Here” Campaign and Bring Solar Power (Standard) to ...