Q1 sales up 13% at Huttig
Huttig reported first quarter 2018 net sales of $198 million, a 13% increase from net sales of $175.7 million in the first quarter 2017.
The St. Louis, Mo.-based building products distributor attributed sales growth to an 8% increase in new residential construction activity as well as growth derived from the execution of its strategies.
Huttig reported a first quarter net loss of $500,000, a 44% improvement from a net loss of $900,000 in the first quarter 2017.
Millwork product sales rose 4% in the first quarter of 2018 to $95.3 million, compared to $91.9 million in the first quarter of 2017.
Building products sales soared 26% in the quarter to $85.5 million, compared to $68.1 million in the same period a year ago, primarily attributed to higher sales of the Huttig-Grip product line.
Wood product sales grew 10% in quarter to $17.2 million, compared to $15.7 million in the corresponding period last year.
I am pleased with the continued progress we made in executing our strategic growth initiatives in the quarter,” said Jon Vrabely, Huttig president and CEO. “We are seeing the results of our strategic investments as our first quarter revenues increased 13% over the prior year quarter. Looking forward, we will continue to focus on executing our growth plans, improving our gross margins, and managing our working capital.”
The St. Louis, Mo.-based building products distributor attributed sales growth to an 8% increase in new residential construction activity as well as growth derived from the execution of its strategies.
Huttig reported a first quarter net loss of $500,000, a 44% improvement from a net loss of $900,000 in the first quarter 2017.
Millwork product sales rose 4% in the first quarter of 2018 to $95.3 million, compared to $91.9 million in the first quarter of 2017.Building products sales soared 26% in the quarter to $85.5 million, compared to $68.1 million in the same period a year ago, primarily attributed to higher sales of the Huttig-Grip product line.
Wood product sales grew 10% in quarter to $17.2 million, compared to $15.7 million in the corresponding period last year.
I am pleased with the continued progress we made in executing our strategic growth initiatives in the quarter,” said Jon Vrabely, Huttig president and CEO. “We are seeing the results of our strategic investments as our first quarter revenues increased 13% over the prior year quarter. Looking forward, we will continue to focus on executing our growth plans, improving our gross margins, and managing our working capital.”