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Beacon Roofing Supply, Inc. ( BECN ) tumbled around 9.8% and closed at $26.25 on Nov 25 after reporting dismal fourth-quarter and fiscal 2014 (ended Sep 30, 2014) earnings. Fourth-quarter adjusted earnings declined over 14% year over year to 48 cents per share owing to 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. Earnings also fell short of the Zacks Consensus Estimate of 61 cents.

The company's reported earnings came in at 48 cents per share, decreasing 12.7% from 55 cents reported in the year-ago quarter.

Beacon Roofing Supply, Inc - Earnings Surprise | FindTheBest

Operational Update

The distributor of residential and non-residential roofing materials posted record fourth quarter and fiscal 2014 sales, driven by the success of 26 new greenfields opened in the current year.

Total revenue increased 6.3% year over year to a record $726.5 million and came ahead of the Zacks Consensus Estimate of $732 million. Complementary product sales increased 14.5% followed by a 5.1% rise in residential roofing products while Non-residential roofing product sales went up 4.9%.

Geographically, Beacon Roofing witnessed organic growth in five out of the seven reported regions in the quarter. The Midwest and Northeast led the way with double-digit gains fueled by storm and greenfield volume from the 2013 and 2014 openings. The company also viewed solid growth in the West, Canada and mid-Atlantic regions, whereas the Southeast and Southwest regions, both down double digits in the quarter, continued to struggle with volume as a lack of normal storm volume, lower residential reroof and new construction work has impacted overall demand and pricing.

Cost of goods sold went up 7% year over year to $563 million. Gross profit was $163 million, compared with $157.7 million in the year-ago quarter. Gross margin contracted 60 basis points (bps) from the prior-year quarter to 22.5% primarily due to decline in total pricing, mainly seen across the residential roofing products and commercial roofing products.

Operating expenses for the quarter increased 9% year over year to $120 million. The company posted an operating profit of $43.2 million, down 9% from $47.6 million in the prior-year quarter.

Fiscal 2014 Performance

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Beacon Roofing (BECN) Falls on Dismal Q4 & 2014 Earnings - Analyst Blog

TOLEDO, OH (Toledo News Now) - Monday's wind damage has left roofing companies extremely busy repairing siding and shingles.

"A lot of the older shingles, which are much more brittle, they're basically blowing off," said Michael J. Fox of Ohio Roofing and Siding Co. "The new style shingles by Owens Corning has better sealant and they don't blow off as quickly."

Crews have also had to make extensive repairs from trees falling into homes. They say they pay attention to the weather so they know how to prepare.

"Our crews are always on call," said Fox. "We carry tarps and things to come out and cover the roof up, and where it's possible, you put new shingles back in."

"We do that for temporary repair," he continued. "Then we have the people call their insurance company."

Fox says crews tried to get as much done as they could Tuesday, but repairs of extensive damage will last all week.

"We have four or five guys in different trucks going on jobs and trying to repair them," said Fox. "We hit as many as we can."

Staff at Ohio Roofing and Siding Co. say this is the season where storm damage is a major factor in keeping them busy.

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Roofing companies still making repairs after heavy wind causes damage

November 26, 2014 - Indoor Football League (IFL) Iowa Barnstormers DES MOINES - The Iowa Barnstormers continue to fill their training camp roster with the additions of wide receiver Chris Bowden and defensive backs Torez Jones and Kirkland Davidson, Head Coach Joe Brannen announced today.

Bowden (6-2, 215, Wingate) joins the Iowa Barnstormers roster after spending time in the Arena Football League (AFL) with the Arizona Rattlers. Collegiately, Bowden was a four-year starter at Wingate University where he recorded 263 receptions for 3,719 yards and 35 touchdowns. In 2012, the Georgia native earned several honors for his standout performance including first team All-American, South Atlantic Conference (SAC) Offensive Player of the Year, and Wingate's all-time leading receiver.

Jones (6-0, 190, Western Carolina) comes to the Barnstormers with two years of professional indoor football experience after spending time with the Richmond Raiders of the Professional Indoor Football League (PIFL) and the Utah Blaze (AFL). Collegiately, the All-Southern Conference defensive back finished second in the nation with seven interceptions and added 62 tackles. Jones broke the school record and tied the conference record with four interceptions in a single game.

Davidson (5-9, 185, Livingstone) played the 2014 season with the Champion San Angelo Bandits of the Lone Star Football League (LSFL). In five games, Davidson snagged four interceptions while recording 27 total tackles, 17 pass breakups, and one field goal touchdown. Davidson played his collegiate football career at Livingstone College where he earned All-Conference honors and was invited to both the 2013 All-Star Game and 2013 Hansen Bowl.

The Iowa Barnstormers Official Dance and Promotional Team, the Storm Chasers, are holding their open tryout on December 6, 2014. The audition will take place at the Riverfront YMCA in downtown Des Moines and is open to all females ages 18 and older. To register or for more information, call the Barnstormers Front Office at 515-633-2255 or log on to http://www.theiowabarnstormers.com.

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Barnstormers Roster Continues to Grow

December is right around the corner, which means you'll be spending a lot of time with family members, so you might need a way to avoid them at one point or another during the holidays. There is no shame in that. Sometimes your mom asking who this "Beneswitch Humperdink" guy is for the fourth time is just too much to handle.

Thankfully, the OG system of avoidance, Netflix, has come out with its list of new moviesand TV showsthat will be coming to the streaming service this December. And we found at least 13 really exciting additions, which is at the very least 30 hours of time you can avoid your family. Or you can watch these movies with your family members if you're into that sort of thing.

NEWS: Netflix just saved his canceled series

1.A Knight's Tale

Not only do we get to see the late Heath Ledger as a handsome, badass jouster, but this is one of the few (only?) films set in medieval times that manages to slip Queen music into it. And a dance number!

2.Almost Famous

This is Kate Hudson's star-making role, but this is one of the few times we can definitively say that the charming Kate is not our favorite part of this movie.

3. Crossroads

It should have been called Academy Award-nominated Crossroads, starring Academy Award-nominated Britney Jean Spears. Just kidding, it's mediocre at best, but damn if we don't love to watch this 2002 cheesefest.

4.American Horror Story: Coven

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The 12 Best Movies Coming to Netflix in December

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SARANAC LAKE - The village is planning another downtown sewer main replacement project.

The village Board of Trustees heard a presentation Monday night from Jim Dougan of Plattsburgh-based AES Northeast, the village's engineering consulting firm, on plans to replace roughly 700 feet of 18-inch sewer main on Dorsey Street, between Broadway and LaPan Highway, over two-and-a-half months next year.

"It's a continuation of what you've been focused on really since 2004, which is the sewer trunk main from out here on Kiwassa (Road) all the way back to the (village wastewater treatment) plant," Dougan said. "We're just about complete with the LaPan Highway project, which was that section we were concerned about collapsing, and you did the Broadway project this spring. This is the section in between on Dorsey Street."

Jim Dougan of AES Northeast outlines plans to replace a sewer main on Dorsey Street next year at Monday nights Saranac Lake village Board of Trustees meeting in the Harrietstown Town Hall. (Enterprise photo Chris Knight)

The biggest issue, Dougan said, is the slope of the line.

"The pipe itself is not in terrible shape," he explained. "Some of it is sloped the wrong direction, so it's causing debris to collect there. It's causing backups. It is not the worst section through here, which is really why it has waited until last."

While most of the work would take place during the day, Dougan said there may be a need for night work at two locations: near the Dorsey-Broadway intersection and where a bridge crosses the Saranac River to the village's Dorsey Street parking lot.

"During the day, the street will be shut down, but each night it would be open to at least a minimum of single-lane traffic," Dougan said.

Dougan said he'd like to put the project out to bid soon because he said contractors are hungry for work. He presented two possible construction timelines the village could request when it solicits bids: from May 1 to July 15, or from Sept. 1 to Nov. 15.

"We're trying to not have the project be right in the middle of summer when it would disrupt the most visitors," he said. "We have one of two options, and we think that flexibility will get you even more aggressive pricing."

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Skanska Property Hungary has started construction work on its seventh office building in Budapest, dubbed Nordic Light, on inner Vci t, the main office corridor of Budapest. Phase I is scheduled for completion in the first quarter of 2016.

The complex will consist of approximately 26,200 sqm of leasable area and be built in two phases. The project has already been LEED pre-certified with a Gold rating thanks to its innovative solutions minimizing the buildings impact on the natural environment, Skanska says. During the design process, green and sustainable solutions received special attention, which not only minimizes the buildings environmental impact, but also reduces operating costs, which translate into lower bills for water and electricity, the company says.

Nordic Light is situated in a most vibrant office location, on the Vci corridor and offers great visibility to our tenants, said Zoltn Linczmayer Managing Director of Skanska Property Hungary. The state-of-art technologies of our building represent our commitment to the energy-efficient, environmentally friendly and healthy office spaces Skanska is famous for. With the design of the building, our aim was to create a workplace where people will love to spend their time.

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Skanska launches Nordic Light office project in Budapest

Photo from Chard Gonzales

MANILA, Philippines Fire investigators are still probing the cause of fire that struck the unfinished One World Place building in the upscale Bonifacio Global City business district in Taguig City on Thursday morning.

Chief Inspector Junito Maslang, Taguig City Fire marshal, said in a phone interview with INQUIRER.net that they cordoned off the 31-storey establishment as arson investigators look into what caused the fire.

The area has been cordoned off. Fire officers are still collecting debris. Construction work has been suspended, Maslang said.

According to Maslang, the Megawide Construction Corporation said there were 520 construction workers inside the building when the fire broke out.

At least 14 construction workers were rescued by Bureau of Fire Protection officers and other responding units as they were trapped inside the burning building.

They had difficulty breathing so most of them were brought to St. Lukes Medical Center in BGC, Maslang said.

The fire started at basement 3 at around 9:30 a.m. Smoke reached up to the 24th floor.

As of 11:30 a.m., authorities placed the fire on third alarm. At least 20 fire trucks responded to the area.

More than an hour later, firefighters completely put out the fire.

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BGC building catches fire, construction workers rescued