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| Universal Forest Products Declares 4th Quarter Loss |
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Universal Forest Products Inc reported 2009 financial results on Monday in line with expectations and predicted another tough year ahead.
While the company sustained a net loss of $663,000, or ($0.03) per diluted share, net earnings increased to $24.3 million in 2009 as compared to $4.3 million in 2008. CEO Michael Glenn attributed this to the employees' "collective spirit" and ability to "...eliminate waste and to focus on critical basics like inventory and receivables".
“We will maintain a keen eye on those strategies in 2010, and will add an intense focus on sales growth during the year,” Glenn stated. “Although we expect 2010 to be challenging, we’ve laid the groundwork to achieve new and sustainable growth in the future, and we’re already seeing results.”
For more on this story, please see today's Financial section. |
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