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UFPI's Q1 sales flat, though earnings up 38%

Universal Forest Products, Inc. announced its first-quarter 2014 results Wednesday, which showed marked improvement in bottom-line earnings but relatively stagnant revenues.

Net sales for the quarter came in at $554.0 million, barely changed since last year's $554.5 million. Net earnings for the peiod came in at $7.2 million, which is up 38% year-over-year.

"We focused successfully on improving the performance of our framing operations, and that was the primary driver of our increased profitability in the first quarter," said CEO Matthew J. Missad. "We remain well-positioned in construction, and in each of our business markets, for the rebound we believe will occur as the weather breaks."

Missad added that a "historically brutal winter" affected businesses throughout the country, resulting in 80 plant closure days at the company's various North American locations.


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