According to MarketWatch, reflecting an 15 percent increase in revenue from the manufactured housing industry, Patrick Industries, Inc. (+8.19%) of Elkhart, Indiana reported net sales for the second quarter of 2012 rose 39.9 percent, or $33 million, over the $82.6 million of the same quarter in 2011. Net income for Q2 2012 was $13.3 million, $1.22 per diluted share, over $3.7 million, or $0.36 per diluted share for the same period of 2011. Shipments in the MH industry for the first six months of 2012, accounting for 19 percent of the company’s sales, increased 20 percent over the same period for 2011. Net sales for the first six months of 2012 rose 43.5 percent, from $66.2 million to $218.3 million, over $152.1 million for the same period of 2011. Net income for the first six months of 2012 was $18.3 million, $1.70 per diluted share, versus $2.5 million, or $0.24 per diluted share, for the first six months of 2011. MHProNews knows Patrick manufactures and distributes component and building products to the recreational vehicle and manufactured housing industries, as well as to other industrial markets.
