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BlueLinx Reports Narrower Loss in 4Q

Zacks Equity Research

BlueLinx Holdings Inc. (BXC) reported its financial results for the fourth quarter and year 2012 on February 13, 2013. The company reported adjusted loss per share of 12 cents in the quarter compared with a loss of 15 cents reported in the year-ago quarter.

For 2012, adjusted net loss reported was 34 cents per share, an improvement over a loss of 76 cents reported in 2011.

Total revenue in the quarter jumped 12.6% year over year to $440.3 million while for 2012, revenue totalled to $1.908 billion, reflecting an increase of 8.7% year over year.

Gross profits in the fourth quarter climbed 8.7% year over year and came in at $52.1 million while gross margin settled at 11.8%. As a percentage of revenue, selling, general and administrative expenses represented 12.4%, 10 basis points over the year-ago quarter.

Exiting the fourth quarter 2012, the company’s cash and cash equivalents stood at $5.2 million compared with $4.9 million in 2011 while long-term debt balance was at $368.4 million, up 12.1% year over year.

Cash used in operating activities in 2012 was $74.3 million, roughly 47.5% in excess of the cash used in 2011. The company spent roughly $2.8 million on purchasing property, plant and equipment compared with $6.5 million spent in 2011.

BlueLinx Holdings Inc. is one of the leading distributors of building products in North America. The company is headquartered in Atlanta, Georgia and currently has a market capitalization of $206.4 million.

The stock currently carries a Zacks Rank #3 (Hold). Other stocks to watch out for in the industry are Louisiana-Pacific Corp. (LPX) with a Zacks Rank #1(Strong Buy) while Beacon Roofing Supply, Inc. (BECN) and Builders FirstSource, Inc. (BLDR) have a Zacks Rank #2 (Buy).

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