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UPDATE 1-Beacon Roofing Q4 lags Wall Street view
November 29, 2010 / 1:50 PM / 7 years ago

UPDATE 1-Beacon Roofing Q4 lags Wall Street view

* Q4 EPS $0.37 vs est $0.41

* Q4 rev $482.6 mln vs est $496 mln

Nov 29 (Reuters) - Roofing products distributor Beacon Roofing Supply Inc (BECN.O) posted lower-than-expected quarterly results hurt by a fall in residential sales due to lower selling prices and less re-roofing in storm-affected regions.

For the fourth quarter, net income was $16.9 million, or 37 cents a share, compared with $19.0 million, or 42 cents a share a year ago.

Sales fell slightly to $482.6 million while residential roofing sales fell 17 percent.

Gross margin was 22 percent compared with 23.2 percent last year.

Analysts on average had expected earnings of 41 cents a share, before special items, on revenue of $496 million, according to Thomson Reuters I/B/E/S.

Shares of the Peabody, Massachusetts-based company closed at $15.75 on Friday on Nasdaq. They have gained 16 percent since touching a year low on Aug. 25. (Reporting by Divya Sharma in Bangalore; Editing by Don Sebastian)

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