Patrick Industries, Inc. (PATK) reports net sales for the second quarter of 2014 hit $188 million, an 18 percent increase over the same period in 2013, and net income per diluted share of $0.86 as compared to $0.70 for Q2 2013. President and CEO Todd Cleveland says manufactured housing (MH) wholesale unit shipments rose three percent year-over-year, and he expects MH to grow at a higher rate than residential housing starts. For Q2 2014, our gross margin grew more than 110 basis points to 16.9% over the 15.8% achieved for the same period in 2013, according to seekingalpha.com. Operating income grew $2.6 million, 20 percent, in the second quarter of 2014 compared to 2013, and operating margins rose from 8.1 percent in 2013 to 8.3 percent in Q2 2014. As MHProNews understands, Patrick is a component supplier to the MH industry. ##
