Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of building product supplier Universal Forest Products
So what: Net sales rose 11.4% to $422 million, and the company reported a loss of $1.7 million, or $0.09 per share, from a small profit a year earlier. When you strip out one-time items posted a tiny profit, topping the $0.05 per-share loss analysts had expected.
Now what: Growth was strong in most areas, but manufactured housing rose a very impressive 35.1% in the quarter. And the quarter's small profit was a nice surprise in a seasonally down quarter for the company. Before jumping into shares on a report like this, I would like to see stronger summer quarters when profit really hits the books.
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