Taiga’s profit up 62% in latest quarter
Taiga Building Products Ltd. is reporting net earnings of $5.9 million for its latest quarter, compared to $3.6 million in the same period last year, an increase of 62%.
Higher gross margin dollars were partially offset by higher compensation costs included in selling and administrative expense.
Consolidated net sales for the quarter ended June 30, 2012 were $309.5 million compared to $263.6 million in the same period last year. The 17% increase in sales was largely due to improved commodity prices and stronger demand fueled by early arrival of spring this year compared to the same period last year.
Gross margin for the quarter ended June 30, 2012 increased to $30.8 million from $26.7 million in the previous year. Gross margin percentage for the quarter declined slightly to 9.9% compared to 10.1% in the same period last year.
EBITDA for the quarter ended June 30, 2012 was $15.4 million compared to $12.2 million last year.
Source: Taiga Building Products Ltd.