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Beacon Roofing Supply Net Income Jumps By Nearly 30 Percent

Feb 9, 2011 | Reprints | Unlock Link | Print

Peabody-based Beacon Roofing Supply Inc. reported $10.1 million in net income for the quarter ended Dec. 31, 2010, a 28.4 percent increase from the same time a year prior.

The increase in net income was due to higher sales and lower interest expense, partially offset by the impact from a lower gross margin rate, and higher expenses and income taxes, according to a statement.

"Our first quarter 2011 results exceeded our expectations," said Paul Isabella, Beacon Roofing Supply president and CEO. "Our commercial and complementary businesses bounced back well from low prior year levels and some of our regions experienced healthy gains in residential business as well."

Commercial & Industrial