Bluelinx Holdings (BXC) Reports Q4 Loss of $0.07

Bluelinx Holdings (NYSE: BXC) reported Q4 EPS of ($0.07), versus ($0.09) reported last year. Revenue for the quarter came in at $428.2 million, versus $454.1 million reported last year.

“We are pleased to announce that we successfully completed the extension of our CMBS mortgage and ABL and Tranche A loans simultaneously, extending our mortgage for three years and our ABL and Tranche A loans through July 15, 2017. This is the first step in significantly reducing the Company’s financial leverage and enabling us to quickly monetize our real estate portfolio while we continue our working capital emphasis,” said Mitch Lewis, President and Chief Executive Officer.

Lewis continued, “Our fourth quarter results reflect the momentum we began to enjoy last year with our gross margin and profitability initiatives. Our emphasis on enhancing margins while maintaining our focus on managing the Company’s expenses contributed to this improved performance.”

Susan O’Farrell, Senior Vice President and Chief Financial Officer added, “As mentioned last week on our earnings call, we are encouraged that our working capital initiatives drove a year-end cash utilization improvement of $52.2 million from full year fiscal year 2014. In 2015, we generated $39.9 million in cash from operations versus cash used of $12.3 million from operations in 2014. Additionally, net debt was reduced by $23.6 million for the 2015 year-end when compared to the same period a year ago, decreasing both our mortgage and asset-based revolving credit balances.”

For earnings history and earnings-related data on Bluelinx Holdings (BXC) click here.

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