BURNABY, BC, July 30, 2015 – Taiga Building Products Ltd. (“Taiga” or the “Company”) today reported its financial results for the three months ended June 30, 2015.
First Quarter Ended June 30, 2015 Earnings Results
Sales for the first quarter increased to $404.0 million from $374.8 million in the same quarter last year. The increase in sales by $29.2 million or 7.8% was largely due to stronger demand in all major markets.
Gross margin for the first quarter was $34.5 million compared to $33.0 million in the same quarter last year. Gross margin percentage for the first quarter was 8.5% compared to 8.8% for the same quarter last year. The decrease in gross margin percentage was primarily due to lower commodity prices.
Net earnings for the quarter increased to $6.4 million from $5.6 million in the same quarter last year primarily due to increased gross margin dollars.
See attached PDF for complete press release and statement of earnings.
For further information:
Mark Schneidereit-Hsu, CFO and VP, Finance & Administration, Tel: 604.438.1471, Email: mschneidereit@taigabuilding.com