BURNABY, BC, August 7, 2014 – Taiga Building Products Ltd. (“Taiga” or the “Company”) today reported its financial results for the three months ended June 30, 2014.
First Quarter Ended June 30, 2014 Earnings Results
Sales for the first quarter ended June 30, 2014 increased to $374.8 million from $335.8 million in the same quarter last year. The 12% increase in sales was primarily the result of pent-up customer demand caused by the severe winter conditions in the preceding quarter.
Gross margin for the first quarter increased to $33.0 million from $25.4 million in the same quarter last year. Gross margin percentage for the first quarter also increased to 8.8% from 7.6% in the same quarter last year, which was negatively impacted by a sharp fall in commodity prices.
Net earnings for the first quarter increased to $5.6 million from $1.5 million in the same quarter last year. EBITDA for the first quarter increased to $16.2 million from $9.6 million in the same quarter last year.
See attached PDF for complete press release and statement of earnings.
For additional information regarding Taiga please contact:
CFO and VP, Finance & Administration