BUSINESS NEWS: Gibraltar Reports First-Quarter Sales and Earnings
Gibraltar Industries Inc. (Buffalo, N.Y.) reported strong first-quarter sales, net income, and earnings-per-share for the quarter ended March 31, 2006. Sales from continuing operations in the first quarter of 2006 were $360 million, an increase of approximately 32 percent from $274 million in the first quarter of 2005, continuing a trend of solid sales growth. Net income from continuing operations of $14.4 million in the quarter ended March 31, 2006 increased by approximately 36 percent from $10.6 million in the first quarter of 2005. Earnings-per-share from continuing operations in the first quarter of 2006 were $.48, above the upper-end of the range Gibraltar provided on February 8, and an increase of approximately 33 percent compared to $.36 per share in the first quarter of 2005. According to the company, the thermal-processing segment had an excellent quarter, with record sales and strong operating margins.
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