NCI Building Systems Loss Widens, But Tops Street - Update

(RTTNews) - NCI Building Systems Inc. (NCS), a maker of metal products for the nonresidential building industry, Tuesday reported a wider loss for the first quarter, hurt by lower margins even as sales climbed more than 4 percent. Loss was wider than Wall Street estimates, but sales topped expectations.

The company said the recent quarter was somewhat mixed due to harsh winter weather that led to plant closures, delayed incoming material deliveries and product shipments, as well as higher utility expenses.

Going forward, NCI said its prospects appear bright.

Houston Texas-based NCI posted a quarterly net loss of $4.3 million, compared with a loss of $3.6 million a year ago. On a per share basis, loss narrowed to $0.06 from $0.19, on a higher share count.

Excluding items, adjusted loss for the recent quarter was $4 million or $0.05 per share.

On average, 8 analysts polled by Thomson Reuters expected a loss of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the first quarter grew to $310.7 million from $297.6 million in the prior year. Analysts expected sales of $302 million for the quarter.

Among segments, metal coil coating sales climbed 10 percent from last year, metal components were up 2.8 percent, and engineered building systems climbed 3.2 percent.

Gross margin for the quarter slid 140 basis points from last year to 19.1 percent.

The company's stock closed Tuesday at $16.78, down $0.22 or 1.29%, on a volume of 579k shares on the NYSE.