Taiga’s Q3 sales and profits improve | Taiga Building Products

Taiga’s Q3 sales and profits improve

BURNABY, BC, February 5, 2015 - Taiga Building Products Ltd. (“Taiga” or the “Company”) today reported its financial results for the three and nine months ended December 31, 2014.

Third Quarter Ended December 31, 2014 Earnings Results         

Sales for the quarter ended December 31, 2014 were $296.1 million compared to $264.1 million in the same period last year. The 12% increase in sales was primarily the result of stronger demand in all major markets, especially in Canada.   

Gross margin for the quarter ended December 31, 2014 increased to $24.2 million from $20.8 million over the same period last year. Gross margin percentage for the quarter increased to 8.2% compared to 7.9% in the same period last year. The gross margin percentage from last year’s third quarter was negatively impacted by the increase in inventory reserve related to mark to market adjustments.

Taiga’s net earnings (loss) for the quarter ended December 31, 2014 increased to $0.4 million from $(0.5) million over the same period last year.

EBITDA for the quarter ended December 31, 2014 was $7.5 million compared to $6.5 million for the same period last year.

Nine Months Ended December 31, 2014 Earnings Results

Sales for the nine months ended December 31, 2014 were $1,054.4 million compared to $944.8 million over the same period last year. The increase in sales by $109.6 million or 12% was primarily the result of stronger demand in all major markets. In addition, the first quarter’s sales were positively impacted by the release of pent-up customer demand arising from the severe winter conditions experienced in the previous fiscal year.

Gross margin for the nine months ended December 31, 2014 increased to $91.7 million from $75.9 million over the same period last year. Gross margin percentage for the nine months increased to 8.7% compared to 8.0% over the same period last year. The gross margin percentage was lower in last year’s period due to a steep decline in commodity prices.

Net earnings for the nine months period ended December 31, 2014 were $11.6 million compared to $5.0 million for the same period last year.

EBITDA for the nine months ended December 31, 2014 increased to $37.4 million compared to $28.8 million for the same period last year.

See attached PDF for complete press release and statement of earnings.

For further information regarding Taiga, please contact:

Mark Schneidereit-Hsu

CFO and VP, Finance & Administration

Tel:     604.438.1471

Email: mschneidereit@taigabuilding.com

Posting date: 
Jeudi, février 5, 2015

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