It's double-digit growth for Huttig in Q2
Huttig Building Products, Inc. made a strong showing in the second quarter, logging double-digit growth thanks to an increase in construction activity, a new product line and the completion of the BenBilt acquisition.
Net sales for the second quarter ended June 30 were up 13% to $197.9 million, compared with $175.1 million in the year-ago period.
Meanwhile, net income was $10.4 million compared to $5.1 million in the second quarter of 2015.
"We delivered our 21st consecutive quarterly improvement over prior year's quarter, excluding unusual items, in the second quarter of 2016," said Jon Vrabely, Huttig president and CEO. "I am very pleased with our financial results and our continued success in executing our strategic priorities in the quarter. We closed the acquisition of BenBilt Building Systems, accelerated our revenue and margin growth, and continued our investments in people, capital, and technology, which we believe will support our growth and profitability going forward."
Sales increased in all product categories, especially millwork sales, which were up 16%. Building products were up 10%, and wood product sales were up 9%.
Gross margin also increased 19% to $42.2 million in 2016 compared to $35.6 million in 2015.