ATLANTA, GA -- BlueLinx Holdings Inc., a leading distributor of building products in North America, reported a net loss of $3.2 million, compared with a net profit of $3.1 million, for the fiscal third quarter of 2012.
Revenues for the fiscal third quarter increased 12.3% to $558.0 million from $496.8 million for the same period a year ago. Overall unit volume increased 11.9% compared to the same period a year ago.
"The implementation of the Company's previously announced restructuring program is proceeding as planned, and sales and operational initiatives are having a positive impact," said BlueLinx Executive Chairman Howard Cohen. "Despite the restructuring this quarter, the Company achieved a significant improvement in same center results. We have regained sales growth momentum in higher margin specialty products, which grew 11.7% on a same center basis and increased the Company's adjusted EBITDA by $3.3 million or 118%. On an overall basis, commodity pricing has stabilized and margins are recovering. Changes made to reduce the Company's cost structure and simplify the organization structure also contributed to the Company's improved same center performance."
We have launched other initiatives this quarter that we believe will add significantly to the Company's financial performance. We are pursuing multiple avenues for growth in addition to accelerated specialty product growth, including an emphasis on faster-growing markets and expanding into adjacent market segments like multi-family," Mr. Cohen concluded.