Patrick Industries, Inc. (NASDAQ: PATK), a major manufacturer and distributor of building and component products for the recreational vehicle (“RV”), manufactured housing (“MH”) and industrial markets, reported its financial results for the third quarter and the nine months which ended September 28, 2014.

CNN Money tells MHProNews that net sales for the third quarter of 2014 increased $41.5 million or 28.3%, to $188.1 million from $146.6 million in the same quarter of 2013.  

The increase was primarily attributable to a 34% increase in the Company’s revenue from the RV industry, which represented 73% of the Company’s third quarter 2014 sales.  According to industry sources, wholesale unit shipments in the RV industry increased approximately 8% in the third quarter of 2014 compared to the third quarter of 2013. 

For the third quarter of 2014, the Company’s revenue from the manufactured housing industry increased 12% from the prior year period, while revenue from the industrial market increased 19%.  The Company estimates that wholesale unit shipments in the MH industry, which represented 16% of third quarter 2014 sales, rose approximately 8% from the third quarter of 2013. 

Patrick is one of the firms tracked in the Daily Business News stock market report, and enjoyed a nice bump on Friday. ##

(Image credit: Patrick Industries logo)

(Submitted by Michael Francis to Daily Business News – MHProNews.)