Huttig touts record operating margins in Q4

Huttig Building Products, Inc. made solid top-line progress in the fourth quarter, attributing "record" operating margins to its investments and product line expansions.

“I am incredibly proud of our performance in 2016, a year in which we generated record operating margins since I joined the company in 1999,” said Jon Vrabely, Huttig’s president and CEO. “We continue to invest in our growth, as evidenced by the expansion of our Huttig-Grip product line and the completion of our newest high capacity door line in Florida. We anticipate significant new investments in 2017 to continue our growth and profitability.”

Net sales for the three months ended Dec. 31 were $164.4 million, up 5.79% from the same period last year. The company attributed the progress to construction activity, the addition of a new product line and the acquisition of BenBilt, which was completed on April 4, 2016.

Category-wise, millwork sales increased 11% to $91.4 million, building product sales increased 3% to $60.2 million, and wood products decreased 14% to $12.8 million with a 6% increase in sales of engineered wood products and a 32% decrease in sales of other wood products.

The company reported a net loss of $200,000 for the quarter, however, down from net income of $400,000 the previous year.

For the year, net sales of $713.9 million jumped 8.2% over 2015's $659.5 million, with net income of $16.3 million down 37.3% from the previous year.

              

Millwork sales increased 12% to $363.9 million, building product sales increased 5% to $278.8 million, and wood products increased 1% to $71.2 million with a 12% increase in sales of engineered wood products and a 7% decrease in sales of other wood products.