ST. LOUIS, MO -- Huttig Building Products, Inc., a leading domestic distributor of millwork, building materials and wood products, said Net income in the third quarter 2014 was $3.5 million compared to $3.0 million a year ago.
Net sales in the third quarter 2014 were $174.5 million, representing a 14% increase over prior year net sales of $153.3 million. Net sales for the first nine months were $478.5 million, representing a 12% increase over prior year net sales of $426.7 million.
"In the third quarter we generated strong revenue growth and are pleased to report our fourteenth consecutive quarter of improved income from continuing operations, excluding special significant items," said Jon Vrabely, Huttig's President and CEO. "The revenue growth is a result of continued modest improvement in the residential construction market combined with strong execution of our strategic growth initiatives. While we are pleased with our revenue growth of 14%, our flow through on increased revenues to income from continuing operations was negatively impacted by continued significant investments into our business to support our revenue growth, technology and customer service business initiatives. We believe these investments are necessary to capture growth opportunities today while also providing improved operating leverage on future revenue growth."