National Home Centers Logs Decreased Sales
by July 9, 2001 12:00 am 57 views
National Home Centers Inc. of Springdale said net sales for the first quarter of 2001 decreased $1.5 million from the same time last year.
The firm is a supplier of home improvement products and building materials to retail customers and professional contractors.
For the first quarter, which ended April 30, net sales decreased to $25.1 million from $26.6 million in the first quarter a year ago. Comparable store sales for stores open more than one year decreased 5.5 percent. Net income was $209,000, or 3 cents per share, compared with net income of $264,000, or 4 cents per share in the first quarter last year.
National also said EBITDA (earnings before interest, taxes, depreciation and amortization) was $883,000 versus $961,000 in the first quarter last year.
The company, which finished the quarter operating the same eight stores (all in Arkansas) as the same period a year ago, said its revenue mix was 79 percent to professional contractors and 21 percent to retail customers, the same as the first quarter of fiscal 2000.
“In light of the severe winter weather in February which slowed the start of our fiscal year, we are pleased to report we are back on schedule as sales were higher than projected for March and April,” said Dwain A. Newman, chairman and CEO.
Newman said demand for products has been strong because of lower interest rates and builders trying to catch up on project schedules after the winter slowdown. But he said rising fuel prices and commodity prices for lumber and plywood concern the company.
“This will make the cost of building homes more expensive for everyone,” he said.