Headwaters Posts Q3 Profit - Quick Facts

(RTTNews) - Headwaters Inc. (HW) reported that its third-quarter net income was $11.02 million or $0.15 per share, compared to a loss of $13.04 million or $0.21 per share in the same quarter last year.

Income from continuing operations was $9.3 million, or $0.13 per share, for the third quarter of 2013, compared to income of $2.0 million, or $0.03 per share, for the third quarter of 2012. Analysts polled by Thomson Reuters expected the company to report earnings of $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

Net income including discontinued operations was $11.0 million, or $0.15 per diluted share, for the third quarter of 2013, compared to a net loss of $13.0 million, or $0.21 per share, for the third quarter of 2012. The company's earnings per share was impacted by $5.3 million amortization of intangibles associated with acquisitions.

The company's third quarter 2013 revenue increased by 12% to $197.0 million from $175.6 million for the third quarter of 2012. Four analysts had consensus revenue estimate of $198.72 million for the quarter. Revenue from newly acquired trim board product line was approximately $10.2 million during the quarter.

The company continues to expect its Adjusted EBITDA from continuing operations in 2013, excluding the impact from stock price changes, to be in the range of $110 million to $125 million, depending on end markets and cost inflation for the remainder of the fiscal year.