Universal Forest Products Inc.'s (UFPI) building-material sales dipped 3.5% to $159.5 million during the fourth quarter compared with the same period a year earlier. The quarter's sales accounted for 33% of the company's overall 4Q sales, down slightly from 38% a year earlier, and were attributed to 4Q lumber prices that were one-third higher than the year earlier period and 19% higher than FY 2011. For the year, the wood-products manufacturer reported building materials revenues of $841.5 million, 41% of annual sales, representing an increase of less than one percent from 2011.
Overall, strong sales and volumes in the first half of the year pulled down demand during the fourth quarter. UFPI posted a $1.9 million* loss for the fourth quarter, improving slightly on its $1.7 million* loss in the fourth quarter of 2011 as sales rose 11.5% to $470.8 million. For the year, UFPI improved its earnings by nearly $20 million from 2011 to post a $23.9 million gain* on a 16.7% jump in sales to $2.1 billion.
*Net earnings attributable to controlling interest.
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