UFPI's looking at double-digit growth in Q1

Universal Forest Products had considerable movement to report in the first quarter, with sales increases in each of its three markets.

“Growth with our retail customers, success with new product introductions, and significant gains in our industrial business aided by strong results from new acquisitions were among the drivers that helped us deliver these results,” said CEO Matthew Missad. “Our strategies to improve top- and bottom-line results are working, and we are focused on enhancing our growth and success day by day.”

The company pulled in net sales of $633.0 million, an increase of 14.3% year-over-year. Sales increased especially in the company's industrial market.

Net earnings for the quarter were $10.8 million, up from $7.7 million in the prior-year quarter - a 40.9% increase.

Diluted earnings per share came in at $0.51, up from $0.36 in the first quarter of 2014.

Missad added that business especially took off when harsh winter weather conditions eased in March, and that Universal Forest Products anticipates strong orders in the months ahead.