BlueLinx swings to profit in Q2

BlueLinx’s intitiative to deleverage the company, announced about a year ago, delivered the kind of the results the company had hoped for in the second quarter. The Atlanta-based building products distributor delivered the best second quarter since 2008, in terms of net income.

Net income swung to a positive $3.2 million, compared to a loss of $3.1 million in the same quarter last year.

Net sales declined to $474.0 million for the second quarter of fiscal 2017, compared to $509.0 million from the prior fiscal second quarter. But gross profit increased to $60.5 million during the fiscal second quarter, up $3.2 million from the prior fiscal second quarter.

Profits increased even as the company experienced pressure on commodity lumber prices during the period, the Atlanta-based company said.

[See the company press release here.]

 “We continue to make progress in our local market and sales excellence emphasis, which coupled with our ongoing deleveraging efforts, enabled us to improve our financial performance while significantly reducing our debt from prior year levels,” said Mitch Lewis, president and CEO. “As we remain focused on our customers and markets, our team is energized and motivated to continue improving our operating results and garnering market share,”

In March of 2017, BlueLinx completed the sale of a non-operating facility in Allentown, Pennsylvania, as well as two sales-and-leaseback deals in Fort Worth, Texas and Miami, Florida.