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By RTT News, August 08, 2014, 09:24:00 AM EDT
(RTTNews.com) - Beacon Roofing Supply, Inc. ( BECN ) Friday reported a decline in the third-quarter profit, despite 6 percent growth in sales. Earnings per share missed analysts' estimates, while revenues came above view.
The company said the decline in profit was mainly due to lower gross margins from reduced selling prices as a result of a soft demand environment, and a continued unfavorable shift in sales mix to lower margin direct shipment and commercial business.
For the third quarter ended June 30, the company's net income declined to $26.8 million or $0.54 per share from $27.16 million or $0.55 per share last year.
On average, 14 analysts polled by Thomson Reuters expect the company to report profit per share of $0.58 for the quarter. Analyst's estimates typically exclude special items.
Quarterly sales, however rose 5.8 percent to $663.4 million from $627.17 million in 2013. Analysts estimated revenues of $662.94 million.
On an overall consolidated basis, residential roofing product sales increased 2.7 percent, non-residential roofing product sales were up 9.7 percent, and complementary product sales rose 6.4 percent over the prior year.
Paul Isabella, president and chief executive officer said, "We delivered a solid 5.8% growth for the quarter, even in the face of continued soft residential roofing demand. Our diversified product offering allowed us to take advantage of the strength of the current commercial roofing market."
BECN closed Thursday's regular trading at $28.44 on the Nasdaq.
For comments and feedback: contact editorial@rttnews.com
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Beacon Roofing Q3 Profit Declines - Update
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It won't quell the pains of last year's Super Bowl, but the Denver Broncos earned a 21-16 win over the Seattle Seahawks during Thursday's preseason opener.
Despite the fact that second- and third-stringers were playing most of the time, it didn't reallyfeellike a preseason game. But then again, what would you really expect between these two teams?
Beforehand, Pete Carroll explained the intrigue behind the rematch, via Sportspress Northwest'sArt Thiel:
Its a really cool matchup. Im sure theres a lot of people who will have a lot of interest in this thing.
Its going to be fun. Its a great opportunity to play an incredible football team. Theyve got some great additions to their team I know theyre really excited about seeing. Were anxious to see what they look like too, knowing that were going to see them in the season.
He wasn't wrong. There were four lead changes, the yardage battle was close (298-274 in favor of Seattle), and it came down to the final possession when Steven Johnson sealed the win for Denver with an interception of Terrelle Pryor in the end zone.
Both Russell Wilson and Peyton Manning got two series, and both produced similar results: a shaky first drive that quickly sputtered out after inaccurate throws, and a methodical second drive that lasted over nine minutes and was capped by a one-yard scoring run.
First up was Manning. The reigning MVP marched the Broncos 61 yards on 14 plays, converting three third downs in the process. Every single conversion, a bit unsurprisingly, went to the electrifying Demaryius Thomas. Nine yards on 3rd-and-4. Seven yards on 3rd-and-7. Nine yards on 3rd-and-7.
USA Today's Lindsay Jones put it simply:
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Seahawks vs. Broncos: Score and Twitter Reaction from 2014 NFL Preseason
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Microsoft may be removing the touchscreen-centric Charms Bar in Windows 9.
A new report out of Winbeta says Microsoft will pull out the Charms tray completely as part of the user interface overhaul coming to the next version of Windows. The change will purportedly remove the Charms Bar completely on the desktop version of Windows 9 for computers and laptops.
It's still questionable whether the pull out tray will be removed on tablets. ZDNet's Mary Jo Foley says her sources have confirmed the Charms Bar will wave good-bye on slates as well.
As for what's replacing it, Window 9 will supposedly feature a revamped title bar for Windows apps that includes menus to list the charms components. Sharing options once found in the Charms Bars could also be repositioned to a dedicated share button on the app itself.
The main reason behind the UI shake up seems to be about making the OS more welcoming to mouse and keyboard users. While users can simply hover their cursor over to a corner of the desktop screen in Windows 8.1, it can become bothersome over time.
So far, the news surrounding Windows 9 has been a lot about making it look and work like a proper desktop operating system. Windows enthusiast site Neowin has reported that version nine might also sport all new virtual desktops.
As the name might suggests, virtual desktops will allow users to create separate operating spaces within Windows. It's a useful feature for running multiple apps or groups of apps without clogging up the main window with too much multitasking.
Virtual machines have been long supported on other operating systems like OS X and Ubuntu, as well as third-party apps for Window. However, this will be a first time Windows would support the feature natively.
A preview version of Windows 9 is expected to drop in just a few months after which we could see the full retail version roll out by spring time next year. Until then stay tuned to this space for the latest on Windows 9.
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Microsoft reportedly taking Charms out of Window 9, adding virtual desktops
LITTLE ROCK, AR (News release) Petit Jean Electric Cooperative member Connie Jefferies of Damascus has won the seventh annual contest sponsored by the Electric Cooperatives of Arkansas.
According to Bret Curry, manager of residential energy marketing for the Electric Cooperatives of Arkansas, this years makeover contest was designed for members who reside in manufactured homes.
Manufactured homes comprise 15 percent of Arkansas housing stock, have some of the highest electric bills and are very uncomfortable during hot and cold weather extremes, Curry said. The makeover project serves as a teaching resource for all Arkansans.
As the makeover winner, Jefferies 1999 singlewide home will receive up to $50,000 in energy efficiency improvements. During a recent energy audit, electric cooperative energy efficiency experts pinpointed reasons for the high electric consumption in the 840 sq. ft. dwelling. Jeffries had an uncomfortable home and $300 electric bills last winter, he said.
Our diagnostic testing revealed that 50 percent of the air volume within the home was leaking to the outside, Curry said. We also discovered substandard and improperly installed insulation, inefficient windows, no moisture barrier, an inefficient heating and cooling system and non-Energy Star appliances.
A properly built dwelling of this small size should average total monthly electric bills of $100 or less, Curry said. The good news is our makeover project is a wonderful medium for teaching Arkansans how they can resolve their energy problems, improve the comfort of their homes and lower their utility costs.
The makeover team will begin work immediately and work to finish in three to four weeks. Jefferies will receive an ultra-efficient Water Furnace geothermal heat pump installed by Rood Heating & Cooling. WeatherBarr Windows will provide high-efficiency windows. Rheem Marathon will provide the energy efficient water heater. Roof King will provide a high efficiency overlay comprised of foam, radiant barrier and metal roofing. General Electric will furnish Energy Star appliances. SealantTech and Summit Builders will install closed cell foam to the underside and encapsulate the ductwork. The makeover team will install a high-density moisture barrier.
Cooperative members submitted more than 1,500 applications in this years contest. In addition to the grand-prize winner, 16 runners-up will receive a 40-gallon Rheem Marathon energy efficient water heater.
Winners of the 40-gallon Marathon water heaters are:
The Electric Cooperatives of Arkansas comprise 17 electric distribution cooperatives; Arkansas Electric Cooperatives, Inc. (AECI), a Little Rock-based cooperative that provides services to the distribution cooperatives; and Arkansas Electric Cooperative Corp. (AECC), a generation and transmission cooperative. The distribution cooperatives provide electricity to approximately 500,000 homes, farms and businesses in Arkansas and surrounding states.
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Damascus Woman Wins $50K Energy Efficiency Home Makeover
By STEVE KAUFMANContributing Writer
Visitors to the 100-year-old Victorian Italianate house on the upcoming Tour of Remodeled Homes will see early 20th century architectural and design touches.
Theyll also see an early 21st century mans sense of humor.
Matthew Burkley, who bought the house on South Brook Street in Old Louisville, loved the historic integrity of the house its bones. And his brief to Brad Abell, general manager of Vincent Abell Contracting, was to preserve or restore as many of the period aspects of the home as possible.
Abell did that, burnishing whatever was in good condition like the oak floors with mahogany inlays, the wood trim, the cabinetry and the pocket doors on the main floor, and adding what needed adding, like gorgeous wainscoting with nailhead trim and inlaid antique glass panels, and an artistic iron railing on the front-most of the homes two staircases.
Abell restored all the ornate fireplaces in nearly every room of the house to working condition. It completely upgraded all the electric and plumbing and repaired the rope-and-pulley system in all the original windows so they all work for the first time in years.
In the entryway, Abell installed an antique wood-burning soapstone stove that actually functions, heating the entire area.
Also in the entryway, as you come through those dramatic front doors that make Old Louisville such a historic treasure, is a jar filled with spent bullet casings. Presiding on the same table is a statue of the Madonna, her hands raised in prayer, appearing to be blessing the bullets.
Contrasts like these form the personality that Burkley has brought to his uniquely male habitat.
For example, on the upstairs landing hangs a poster of Joseph Stalin, sharing the space with a red bust of Elvis Presley. Hard to imagine the two had much in common, other than their juxtaposition in Burkleys home. (That and Suspicious Minds.)
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Its a Mans World
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Roofing More conducts a full siding inspection before all siding replacement and repair jobs.
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The Alamo Heights City Council has given the green light to homebuilder Jack Dabney to build a larger home on his recently replatted property in the 200 block of Cloverleaf.
The council July 28 unanimously approved the design for the 3,430-square-foot house, which would replace a 2,170-square-foot structure.
Dabney got city permission in June to demolish the latter building. The new home would be two stories and have a bigger garage.
Dabney filed a request May 5 to replat the lots on his property into two 62.5-foot-by-145-foot lots. Dabney and his representatives, along with city staff, previously told the council that the five lots, individually, were not buildable.
City staff received approval from three utilities for the then-proposed plat, and notified the public, including nearby property owners, about Dabney's request. The city received 24 responses all in opposition.
Dabney's supporters have said the replat would enable his company to build two quality homes on the replatted lot. Opponents had said changing the lot could lead to a change in the character of their neighborhood.
Because the council did not act on the proposed replat in the time allotted by state laws for local government, Dabney's replat request was effectively approved.
The city's architectural review board (ARB), in separate meetings, reviewed the significance of demolishing the old house and the design of the replacement. The board's recommended both actions.
However, for the new house design the ARB requested that Dabney replace the siding of the main structure with stucco, and the garage's siding with stone.
The city urged Dabney to meet with his neighbor, Dr. Thomas Spalten, about plans for his property. They did meet but Spalten still has concerns.
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Alamo Heights council approves replacement house
