ELKHART, IN - Patrick Industries, Inc. (NASDAQ: PATK), a manufacturer and distributor of building and component products for the recreational vehicle and manufactured housing markets, saw a 6.4 percent rise, or $4.3 million, in third quarter sales, to $77.4 million.
With RV sales declining three percent industry wide, most of Patrick Industries' increase came from acquisitions. In September Patrick acquired Syracuse, IN-based A.I.A. Countertops llc. In June 2011 Patrick acquired wood products firm Praxis Group, and in 2010 Patrick acquired Blazon.
Retail fixture sales in the industrial market, which serves new housing construction, benefitted from a rise in housing starts during the period.
RV industry sales are 59 percent of Patrick's revenues. Manufactured housing sales industry-wide, which is 26 percent of Patrick Industries' sales, fell 5 percent in the latest quarter.
The industrial market sector, tied to the residential housing market, is 15 percent of sales. New housing starts were up 6 percent.
Patrick Industries, Inc. makes building products serving the recreational vehicle, manufactured housing, kitchen cabinet, household furniture, fixtures and commercial furnishings, marine, and other industrial markets and operates at locations in 12 states. Patrick's major manufactured products include decorative vinyl and paper panels, countertops, wrapped profile mouldings, cabinet doors and components, interior passage doors, and slatwall and slatwall components, and interior passage doors.
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