Beacon Roofing Supply Q1 Profit Decreases - Quick Facts

(RTTNews) - Beacon Roofing Supply Inc. (BECN) reported first-quarter net income of $12.91 million or $0.26 per share, compared to $14.96 million or $0.30 per share, prior year. The company said its net income for the quarter was favorably impacted by gross margins which improved by 10 bps over the prior year, and unfavorably impacted by increased operating expenses which were primarily driven by the incremental costs associated with the 26 greenfields opened in fiscal 2014.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.28 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $596.04 million from $552.13 million last year. Analysts expected revenue of $602.24 million for the quarter.