ATLANTA --BlueLinx Holdings Inc., a leading distributor of building products in North America, said it generated net income of $12.0 million for the fourth quarter of 2009, compared with a net loss of $25.1 million in the year-ago period. The company had revenues of $501.5 million.
The fourth-quarter results include a tax benefit of $23.6 million. This income tax benefit is comprised of a $20.4 million benefit related to our anticipated tax refund on our 2009 taxable loss, due to the extension of the net operating loss carry back provision to five years and a $3.3 million non-cash benefit related to the allocation of income tax expense to other comprehensive income, which is recorded in shareholders' equity, partially offset by other income tax expense.
"While conditions remain difficult, I believe that we have reached the bottom of this four-year decline," said BlueLinx President and CEO George Judd. "As we move forward in 2010, we are confident in our ability to both increase our share of the market and maintain the operating discipline that we demonstrated throughout 2009."