NCI Building Systems Q2 Loss Narrows - Update

(RTTNews) - NCI Building Systems Inc. (NCS), a non-residential building industry products maker, Tuesday reported a loss for the second quarter that narrowed from a year ago, as revenues increased across all segments. Nonetheless, loss for the quarter was more than what analysts' estimated, while revenues fell short of expectations.

Houston Texas-based NCI Building Systems' second-quarter loss narrowed to $4.9 million or $0.07 per share from $5.3 million or $0.28 per share last year.

Excluding special items, adjusted loss for the quarter was $5.3 million or $0.07 per share. On average, nine analysts polled by Thomson Reuters expected a loss of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the second quarter grew 4.2 percent to $305.8 million from $293.4 million last year, reflecting sales growth in all three operating segments. Analysts had a consensus revenue estimate of $312.58 million for the quarter.

Segment-wise, metal coil coating sales climbed 16.5 percent from last year, metal components were up 5.18 percent, and engineered building systems increased 1.6 percent.

Gross margin for the second quarter dropped to 19.5 percent from 20.7 percent last year, due to the negative impact of a harsh winter.

Chief Executive Norman Chambers said, "Although our second quarter performance was impacted by extreme winter weather in February and March, including disruption to our various manufacturing plants, bookings and backlog began to rebound at the end of the quarter."

NCS closed Tuesday's trading at $17.65, down $0.25 or 1.40%, on the NYSE.