PEABODY, Mass.--(BUSINESS WIRE)--

Beacon Roofing Supply, Inc. (the Company) (NASDAQ: BECN - News) announced results today for its second quarter and first half ended March 31, 2012 of the fiscal year ending September 30, 2012 (fiscal 2012).

Paul Isabella, the Companys President & Chief Executive Officer, stated: The positive momentum from our first quarter continued into our second quarter and we finished with record results for the first half of fiscal 2012. Our results for the second quarter and first half significantly exceeded our expectations and most of our regions are on track for a very successful year. Once again our company-wide residential and non-residential product sales in existing markets both showed double-digit percentage increases for the quarter, while our complementary product sales were up 7%. The much warmer winter conditions this year boosted roofing and exterior remodeling activities and seemed to accelerate the recent trend of increased residential re-roofing activities. In addition, our roofing businesses continued to benefit from industry-wide price increases, which mostly occurred during the second half of last year. Our commercial business has been consistently strong since the third quarter of fiscal 2010, and our year-over-year total gross margin and operating margin continued to improve. We were able to increase our cash holdings since our 2011 year-end and we utilized $79 million of that cash to pay down our term debt in April in connection with the closing on our new credit facility. The new credit facility, along with our further improved balance sheet, should enable us to accelerate our growth and we are confident that we will add additional quality companies this year that fit our target acquisition profile. We could not be more pleased with our first half performance and, although we will be up against much tougher comparisons, we expect to have a strong second half as well.

Second Quarter

Total sales increased 33.4% to $395.2 million in 2012 from $296.3 million in 2011. Existing market (organic) sales, which exclude branches acquired after the beginning of last years second quarter, increased 28.2%. In existing markets, residential and non-residential roofing product sales increased 46.0% and 17.4%, respectively, while complementary product sales increased 6.7%. Second quarter sales this year were favorably impacted by increased re-roofing and remodeling activities, including the impact from improved weather conditions and stronger business in several markets that experienced significant storms during the course of last fiscal year, and by higher average selling prices.

Net income for the second quarter was $3.1 million compared to a net loss of $6.2 million in 2011. Second quarter diluted net income per share was $0.07 compared to a net loss per share of $0.13 in 2011. The higher net income was due to the higher sales and gross margin rate, partially offset by the impact from higher operating expenses and a higher income tax provision compared to an income tax benefit in 2011.

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 $17.8 million in 2012 compared to $0.9 million in 2011.

First Half

Total sales increased 26.2% to a record $885.0 million in 2012 from $701.1 million in 2011. Existing market sales increased 21.7%. In existing markets, residential and non-residential roofing product sales increased 34.2% and 16.2%, respectively, while complementary product sales increased 1.5%. Our first half sales this year were primarily impacted by the same favorable factors mentioned above for the second quarter.

Net income for the first half was a record $22.3 million compared to $3.9 million in 2011. First half diluted net income per share was a record $0.47 compared to $0.08 per share in 2011. The higher net income was due to the higher sales and gross margin rate, partially offset by the impact from higher operating expenses and a higher income tax provision.

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Beacon Roofing Supply Reports Second Quarter 2012 Results

Beacon Roofing Supply, Inc.(BECN) reported second-quarter 2012 earnings of 7 cents per share, easily beating the Zacks Consensus Estimate of a loss of 8 cents. Results improved compared to a loss of 13 cents in the year-ago quarter.

Increase in sales and gross margin contributed to the growth. However, the positives were partially offset by higher operating expenses and income tax provision as compared to 2011.

Operational Update

Total revenues increased 33.4% year over year to $395.2 million, beating the Zacks Consensus Estimate of $346 million. Organic growth increased 28.2% in the quarter.

Residential roofing product sales improved 46.0% while non-residential roofing product sales increased 17.4% from the prior-year quarter. Sales benefited from improved re-roofing and remodeling activities including impact of weather conditions, along with stronger businesses in many markets that experienced storms during 2011 as well as average selling prices. Complimentary product sales increased 6.7% in the quarter.

Cost of goods sold increased 30.4% to $301.4 million in the quarter. Gross profit rose 43.7% to $93.7 million. Operating income in the reported quarter improved to $9.75 million from a loss of $6.83 million in the year-ago quarter.

Financial Position

Cash and cash equivalents were $171.1 million as of March 31, 2012, compared with $178.4 million as of March 31, 2011. Current portion of long-term debt amounted to $86.7 million as of March 31, 2012, compared with $9.1 million as of March 31, 2011.

Cash inflow from operating activities was $80.3 million during the second-quarter of 2012 compared with $68.8 million during the second-quarter of 2011. Cash flows in the first half of 2012 were positively impacted by higher net income, partially offset by less favorable changes in working capital.

In conclusion

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Beacon Roofing Shines in 2Q

Credit: Brent Bingham dba Foto Fx

Green roofs may only represent a very small part of the total U.S. residential market, but the industry still saw triple-digit growth last year.

The green roof industry grew by 115 percent over the course of 2011, up significantly from 28.5 percent growth recorded in 2010, says Steven W. Peck, president of Green Roofs for Healthy Cities (GRHC), an association that promotes the development of green roofs and walls in North America.

The association has a theory for the strong growth over the last year. We are definitely beginning to see results from policy support that has increased over the past few years, says Jeffrey L. Bruce, chair of GRHC. The industry is also benefiting from the more than 500 accredited green roof professionals (GRPs) in the market, who are committed to driving future industry growth.

At the same time the group released it numbers, it announced that Washington, D.C., for the first time jumped to top of the metro rankings with more than 800,000 square feet of green roofs installed in 2011. Washington, D.C., Mayor Vincent C. Gray says it shows that the citys aggressive adoption of green infrastructure continues to pay off.

This is evidence that the District is moving toward my vision for a sustainable D.C. and will lead the nation in implementing green practices and growing a green economy, the D.C. mayor says. We are fully committed to being No. 1 again next year.

Chicago is still the green roof leader among metro areas over the past decade, the association adds. With a total of over five million square feet of installed green roofs, it is one million square feet ahead of any other metro region since the survey started in 2004, the GRHC says.

A green roof is one that consists of several layers of protected membranes and soil medium, and planted with any type of vegetation, including succulents, grasses, and other plants. Green roof advocates say the system offers a tremendous amount of benefits, including increased insulation for the building, added energy efficiency, and stormwater management.

In urban applications, green roofs help clean the air, reduce the stress off sewer systems through stormwater retention, and help reduce the heat island effect that makes urban temperatures climb in the summer.

Paul Erlichman, membership coordinator for the association, says the institutional sector of the market saw the biggest green roof gains, but he says commercial, multi-unit residential, industrial, and single-family residential also saw strong growth. This is based on total square footage, and institutional projects tend to be largest, he adds.

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Green Roofing Grows a Whopping 115% in 2011, Industry Announces

Columbus, Ohio - April 2012 - Local Columbus firm, Holland Roofing of Columbus Inc., is recognized by Firestone Building Products Company, LLC, with the 2012 Firestone Master Contractor Award. From a network of more than 3,000 Firestone-licensed roofing contractors, the esteemed firm is among the top 256 to be honored for high-quality roofing system installation and outstanding service.

"Contracting a Firestone Master Contractor provides building owners and roof consultants with the assurance that their roofing project will be completed with great skill and expertise," said Tim Dunn, president of Firestone Building Products. "Firestone congratulates Holland Roofing of Columbus Inc. for providing exceptional client services and delivering superior products, solutions and installations. Throughout this past year, this firm consistently demonstrated top-quality workmanship that merits the Master Contractor award."

Celebrating its 25th year, the Master Contractor program has commended notable roofing firms for attaining Firestone's high level of standards, which are based on total square footage installed and outstanding inspection ratings. Firestone's first-rate contractor firms in United States, Canada and Mexico are eligible for the award.

For information on roofing services provided by Holland Roofing of Columbus Inc., please contact Ed Calfe at 614-430-3724 or via email at info@hollandroofing.com. You may also visit the company's website at http://www.hollandroofing.com/columbus.

Celebrating its 25th year, the Master Contractor program has commended notable roofing firms for attaining Firestone's high level of standards, which are based on total square footage installed and outstanding inspection ratings. Firestone's first-rate contractor firms in United States, Canada and Mexico are eligible for the award. For information on roofing services provided by Holland Roofing of Columbus Inc., please contact Ed Calfe at 614-430-3724 or via email at info@hollandroofing.com. You may also visit the company's website at http://www.hollandroofing.com/columbus.

About Firestone Building Products Company, LLC Firestone Building Products Company, LLC (FSBP) is a leading manufacturer of EPDM, TPO, asphalt and metal roofing systems, polyiso insulation and accessories for the commercial roofing industry. Firestone also offers a number of green roofing products including photovoltaic, daylighting and vegetative roofing systems. Beyond superior roofing products, FSBP offers installation expertise and product support through roofing solutions and technical services departments and an international network of roofing contractors, distributors and field sales representatives. FSBP is headquartered in Indianapolis, Ind. Visit the FSBP website at http://www.firestonebpco.com.

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Firestone Bestows Columbus Company with 2012 Distinguished Roofing Industry Award

Shelbyville, Ky. - April 2012 - Local Shelbyville firm, Holland Roofing of Louisville Inc., is recognized by Firestone Building Products Company, LLC, with the 2012 Firestone Master Contractor Award. From a network of more than 3,000 Firestone-licensed roofing contractors, the esteemed firm is among the top 256 to be honored for high-quality roofing system installation and outstanding service.

"Contracting a Firestone Master Contractor provides building owners and roof consultants with the assurance that their roofing project will be completed with great skill and expertise," said Tim Dunn, president of Firestone Building Products. "Firestone congratulates Holland Roofing of Louisville Inc. for providing exceptional client services and delivering superior products, solutions and installations. Throughout this past year, this firm consistently demonstrated top-quality workmanship that merits the Master Contractor award."

Celebrating its 25th year, the Master Contractor program has commended notable roofing firms for attaining Firestone's high level of standards, which are based on total square footage installed and outstanding inspection ratings. Firestone's first-rate contractor firms in United States, Canada and Mexico are eligible for the award.

For information on roofing services provided by Holland Roofing of Louisville Inc., please contact Randy Clemens at 502-633-6620 or via email at info@hollandroofing.com. You may also visit the company's website at http://www.hollandroofing.com/louisville.

About Firestone Building Products Company, LLC Firestone Building Products Company, LLC (FSBP) is a leading manufacturer of EPDM, TPO, asphalt and metal roofing systems, polyiso insulation and accessories for the commercial roofing industry. Firestone also offers a number of green roofing products including photovoltaic, daylighting and vegetative roofing systems. Beyond superior roofing products, FSBP offers installation expertise and product support through roofing solutions and technical services departments and an international network of roofing contractors, distributors and field sales representatives. FSBP is headquartered in Indianapolis, Ind. Visit the FSBP website at http://www.firestonebpco.com.

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Firestone Bestows Shelbyville Company with 2012 Distinguished Roofing Industry Award

WESTMINSTER, CO--(Marketwire -05/07/12)- The 3C Network (www.3C.com), a technology and business services company serving roofing contractors, and Aerialogics (www.aerialogics.com), a leading aerial measurement technology company, announced the integration of Aerialogics' roofing measurement services into the 3C Network "toolkit." The fusion of products will allow 3C Network contractors to have web-based point-and-click access to aerial measurement technology, the data from which can then be loaded into 3C's custom estimating tools -- resulting in time savings, risk reduction and more accurate and reliable job estimates.

"Aerial measurements are critical for roofing contractors in the race to rectify damage and meet insurance requirements in the aftermath of violent storms," said L.C. Nussbeck, 3C Network's CEO. "Incorporating Aerialogics into the 3C estimating technology offers 3C members a trusted measurement choice."

Aerialogics is a state-of-the-art aerial measurement service for companies handling exterior construction, maintenance, or estimating projects. Aerialogics offers safer, faster and more accurate measurements than climbing a ladder and physically measuring a roof, which helps eliminate human error on this complicated step toward restoration.

Insurance companies often require third-party measurements that are obtained aerially to support the repair estimates provided by roofing contractors. "We support 3C Network's mission to provide the best technology while achieving the highest standards for the roofing industry," Sean Green, CEO Aerialogics, said. "We are confident contractors using Aerialogics will embrace the convenience while delivering the data insurers deserve."

3C Network, short for Consumers, Contractors and Carrier Network, is a full-service technology and business solutions provider supporting roofing contractors in North America. 3C Network formed to be a catalyst among roofing contractors to better serve consumers while improving roofing contractor productivity and profitability. Technology solutions include free web-based roofing management software that integrates aerial CAD measurement, inspection and estimating tools and a dashboard to manage margins and more. Business solution highlights include 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 Network Press Release

To view supporting documents and/or photos, go to http://www.enr-corp.com/pressroom and enter Release ID: 329040

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3C Network and Aerialogics Fuse Services, Take Participating Roofing Contractors to a Higher Level

Indianapolis, Ind. - April 2012 - Local Indianapolis firm, Holland Roofing of Indianapolis Inc., is recognized by Firestone Building Products Company, LLC, with the 2012 Firestone Master Contractor Award. From a network of more than 3,000 Firestone-licensed roofing contractors, the esteemed firm is among the top 256 commercial roofing contractors to be honored for high-quality roofing system installation and outstanding service. Among the award winners, this reputable firm is one of 170 to also earn the Firestone Inner Circle of Quality Award for preserving a high standard of quality execution.

"Contracting a Firestone Master Contractor provides building owners and roof consultants with the assurance that their roofing project will be completed with great skill and expertise," said Tim Dunn, president of Firestone Building Products. "Firestone congratulates Holland Roofing of Indianapolis Inc. for delivering quality craftsmanship, exceptional aclient service and superior products and solutions. Throughout this past year, this firm consistently met and exceeded high commercial building standards and demonstrated dedication that merits both the Master Contractor and Inner Circle of Quality Awards."

Celebrating its 25th year, the Master Contractor program has commended notable roofing firms for attaining Firestone's high level of standards, which are based on total square footage installed and outstanding inspection ratings. In addition, the Inner Circle of Quality Award identifies Master Contractors throughout the United States, Canada and Mexico who were committed to Firestone's level of installation excellence, exhibited the utmost professionalism and provided first-class customer service.

For information on roofing services provided by Holland Roofing of Indianapolis Inc., please contact Robert Rozzi at 317-375-8648 or via email at info@hollandroofing.com. You may also visit the company's website at http://www.hollandroofing.com/indianapolis.

About Firestone Building Products Company, LLC Firestone Building Products Company, LLC (FSBP) is a leading manufacturer of EPDM, TPO, asphalt and metal roofing systems, polyiso insulation and accessories for the commercial roofing industry. Firestone also offers a number of green roofing products including photovoltaic, daylighting and vegetative roofing systems. Beyond superior roofing products, FSBP offers installation expertise and product support through roofing solutions and technical services departments and an international network of roofing contractors, distributors and field sales representatives. FSBP is headquartered in Indianapolis, Ind. Visit the FSBP website at http://www.firestonebpco.com.

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Firestone Honors Indianapolis Company with Two Distinguished Roofing Industry Awards

LAKEWOOD Roofing improvements to the George Nye Library and the Lakewood Youth Center are on the horizon if the City Council on Tuesday approves the project's lowest bid.

Ten private companies submitted proposals on the work, and the Placentia-based Roofing Standards made the lowest bid at $115,200.

Western States Roofing Systems, of Northridge, the second lowest bidder at $166,600, however, sent the city a protest letter saying Roofing Standards' estimate was below the actual cost to complete the work, according to a city staff report.

In the report, Director of Public Works Lisa Rapp addressed Western States' concerns with the council.

Roofing Standards gave city staff an accurate bid verification, she says.

The staff also contacted the roofing consultant, who supplied the roofing materials' cost sheet. The material cost was below the amount allocated by Roofing Standards' bid, according to Rapp.

The company also provided evidence of their intent to comply with the California labor codes for wages, according to the staff report.

Each contractor is responsible for determining its own material quantities, labor hours, overhead and profit percentage that comprise the total bid amount.

Roofing Standards is one of the few contractors certified by the roofing materials manufacturer to install the 20-year warranted roofing system at the library and youth center, according to the staff report.

Rapp recommended

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Lakewood council to consider roofing contract

Local Lebanon firm, Holland Roofing of Nashville Inc., is recognized by Firestone Building Products Company, LLC, with the 2012 Firestone Master Contractor Award. From a network of more than 3,000 Firestone-licensed roofing contractors, the esteemed firm is among the top 256 commercial roofing contractors to be honored for high-quality roofing system installation and outstanding service. Among the award winners, this reputable firm is one of 170 to also earn the Firestone Inner Circle of Quality Award for preserving a high standard of quality execution.

"Contracting a Firestone Master Contractor provides building owners and roof consultants with the assurance that their roofing project will be completed with great skill and expertise," said Tim Dunn, president of Firestone Building Products. "Firestone congratulates Holland Roofing of Nashville Inc. for delivering quality craftsmanship, exceptional aclient service and superior products and solutions. Throughout this past year, this firm consistently met and exceeded high commercial building standards and demonstrated dedication that merits both the Master Contractor and Inner Circle of Quality Awards."

Celebrating its 25th year, the Master Contractor program has commended notable roofing firms for attaining Firestone's high level of standards, which are based on total square footage installed and outstanding inspection ratings. In addition, the Inner Circle of Quality Award identifies Master Contractors throughout the United States, Canada and Mexico who were committed to Firestone's level of installation excellence, exhibited the utmost professionalism and provided first-class customer service.

For information on roofing services provided by Holland Roofing of Nashville Inc., please contact Paul Taylor at 615-443-0655 or via email at info@hollandroofing.com. You may also visit the company's website at http://www.hollandroofing.com/nashville.

About Firestone Building Products Company, LLC Firestone Building Products Company, LLC (FSBP) is a leading manufacturer of EPDM, TPO, asphalt and metal roofing systems, polyiso insulation and accessories for the commercial roofing industry. Firestone also offers a number of green roofing products including photovoltaic, daylighting and vegetative roofing systems. Beyond superior roofing products, FSBP offers installation expertise and product support through roofing solutions and technical services departments and an international network of roofing contractors, distributors and field sales representatives. FSBP is headquartered in Indianapolis, Ind. Visit the FSBP website at http://www.firestonebpco.com

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Firestone Honors Lebanon Company with Two Distinguished Roofing Industry Awards

JUPITER, Fla., May 7, 2012 /PRNewswire/ -- Spray Foam Insulation & Roofing Magazine (SFIRM) is pleased to announce a free magazine subscription on the eve of its May/June issue release.

Featured in the upcoming issue:

Interested parties should visit http://www.sprayfoammagazine.com/spray-foam-magazine-subscribe.htmlto subscribe for free. The magazine provides readers with timely and relevant articles covering all of the benefits that spray foam provides. SFIRM is professionally designed in-house by graphic artists within SprayFoam.com, and digitally published by industry experts.

"It's the largest informational and promotional medium in the history of the spray polyurethane foam industry," says Doug Commette, SFIRM's publisher.

As of writing, the magazine has picked up 13,006 worldwide readers (an exact number, not an estimate) through four published issues.

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Spray Foam Insulation & Roofing Magazine is also available as a free app for the Apple iOS, Google Android and Amazon Kindle Fire platforms.

About Spray Foam Insulation & Roofing Magazine: Launched in August 2011, SFIRM is targeted to a global audience of building construction professionals and energy-conscious readers. It is distributed bi-monthly to applicators, manufacturers, distributors, specifiers, general contractors, architects, engineers, and managers in both the public and private sectors. For more information, or to get a free subscription, visit http://www.sprayfoammagazine.com/spray-foam-magazine-subscribe.html.

Media Contact:

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Spray Foam Insulation & Roofing Magazine Offers Free Digital Magazine Subscription