Extract
BlueLinx Announces Second Quarter Results.
ATLANTA -- BlueLinx Holdings Inc. (NYSE: BXC), a leading distributor of building products in North America, today reported financial results for the second fiscal quarter ended July 2, 2005.
Revenues for the second quarter were $1.49 billion, down 4.7% from the $1.56 billion reported for the second quarter ended July 3, 2004. This decline reflects a 4.4% increase in unit volume offset by a 9.1% decrease in prices. Net income for the second quarter was $7.8 million, or $0.25 per diluted share, compared to $29.8 million, or $0.99 per diluted share, in the prior-year period. For purposes of comparison, the 2004 second quarter statement of operations is presented on a pro forma basis, as if BlueLinx had been a stand-alone, publicly-traded entity since December 29, 2002. Gross profit for the second quarter was $115.7 million compared to $164.1 million in the prior-year period. Gross margin fell to 7.8% from 10.5% in the second quarter of 2004, primarily reflecting a decline in structural product margins. Additionally, margins in the second quarter of 2004 were favorably impacted by strong steel markets. Selling, general, and adm...See the full content of this document
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