Universal Forest Products, Inc. (Nasdaq: UFPI) today announced that its 4^th quarter net sales of $620.1 million is 17.9% more than 4^th quarter results for 2013. Net earnings in the 4^th quarter of 2014 were $9.3 million or 16.5 % more than the same period of 2013. The company reported 2014 annual net sales of nearly $2.7 billion, a 7.7% increase over the previous year.

Herald Online tells MHProNews that for the fourth quarter of 2014, UFPI saw double-digit sales increases in each of its markets. The results reflect an increase in overall unit sales of 14% and an increase in commodity prices that impacted selling prices by 4%. Acquisitions made during the quarter contributed to sales growth, particularly to the industrial market.

“Our people continue to impress with their results. Although 2014 started slow, we were able to finish strong with double-digit growth in both sales and profits,” said CEO Matthew J. Missad. “We are seeing growth both with existing customers and with new customers as we continue to build our new product pipeline. I’m pleased that our focus on bringing new products to market resulted in approximately $150 million in new product sales in 2014.”

In the construction division, which includes residential and manufactured housing, UFPI reported 4^th quarter sales of $224.4 million, up 10 percent over the 4th quarter of 2013. Total sales for the year in construction was $885.3 million, up 2 percent over 2013. ##

(Graphic Credit: Universal Forest Products)

 

Article submitted by Sandra Lane to – Daily Business News – MHProNews.