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UPDATE 1- Patrick Industries posts Q2 profit, shares soar
* Q2 EPS $0.19 vs loss/shr $0.07 a year ago
* Sales up 50 percent
* Shares jump 50 percent
Aug 2 (Reuters) - Building products maker Patrick Industries Inc (PATK.O) posted a quarterly profit as higher recreational vehicle (RV) shipments boosted sales, sending its share up as much as 50 percent.
However, the company said it remained cautious about the impact of continuing tight credit markets, high unemployment and significant increases in raw materials costs.
For the second quarter, the company reported a net income of $1.9 million or 19 cents a share, compared with a loss of $666,000, or 7 cents a share, a year ago.
Sales jumped 50 percent to $83.9 million.
Shares of the company were up 38 percent at $2.76 Monday morning on Nasdaq.They touched a high of $3 earlier in the session. (Reporting by Divya Sharma in Bangalore; Editing by Jarshad Kakkrakandy)
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