National Home Centers Posts Loss

National Home Centers Inc. of Springdale today said the company had a net loss of $419,000 for the fourth quarter of 2000, which ended Jan. 31.

The company still managed a profit for the fiscal year, though 79.7 percent less than last year’s profit.

It is the second consecutive year the building supply company has posted a profit.

“In light of the slowdown in the second half of the year, we are pleased to report our second consecutive year of profits,” Dwain Newman, chairman and CEO, said, adding that inclement winter weather postponed construction projects and slowed sales.

In a press release, National said the weather contributed to the quarter’s net loss, which amounted to 6 cents per share, compared with net income of $107,000 or 2 cents per share in the fourth quarter last year.

Net sales for the quarter decreased by 29 percent from $26.3 million in the fourth quarter of 1999 to $18.7 million. Comparable store sales for stores open more than a year also decreased by 29 percent.

Net income for the fiscal year ending Jan. 31 declined 79.7 percent from $1.12 million in the fourth quarter of 1999 to $226,000 in the quarter ended Jan. 31. That’s a decrease from 16 cents per share to 3 cents per share.

Net sales for the fiscal year decreased by 12.2 percent from $110.0 million in the fourth quarter of 1999 to $96.6 million. Comparable sales for stores open more than one year also decreased by 12 percent for the same period.

National Home Centers is a supplier of home improvement products and building materials to retail customers and professional contractors.

National operates eight stores in Arkansas: Springdale, Bentonville, Fort Smith, Clarksville, Russellville, Conway, North Little Rock and Maumelle. National also has a sales office in Hot Springs.