Universal Forest Products (UFPI) Reports Q1 Loss of $0.06; Won't Issue Guidance
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Universal Forest Products, Inc. (Nasdaq: UFPI) reports Q1 loss of $0.06, versus the analyst estimate of ($0.21) and compared to a loss of $0.24 in the same quarter last year. Revenue for the quarter was $361.7 million, versus the consensus of $421.84 million.
The Company expects the current challenging conditions to prevail through 2009; however, its strong financial position, solid business model and diverse business opportunities position it better than most to endure challenging times. The Company believes that current economic conditions and uncertainties limit its ability to provide meaningful guidance for ranges of likely financial performance and has chosen to cease the practice of providing guidance for the foreseeable future.
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