EAGAN, MN- Cabinetry firm Norcraft Companies revenue rose more than 14 percent fourth quarter, but its loss widened compared to a year ago. For the year sales reached $288.8 million, up 7.2 percent. 

Net sales increased $8.8 million, or 14.2%, from $62.4 million for the fourth quarter of 2011 compared to $71.2 million for the same quarter of 2012. Net loss increased 14.4%, from $3.4 million for the fourth quarter of 2011 to $3.9 million in the same quarter of 2012.

For the year, net sales increased $19.5 million, or 7.2%, and net loss increased 156.2% to $9.6 million in fiscal 2012. Interest expense increased by $2 million.

"We are encouraged by the growth we have seen in our industry and the economy; the impact of which can be seen in our sales," said CEO, Mark Buller.  "But, with the competitiveness of the industry, much of the discounting and sales promotions have continued and our margins were negatively impacted. We are currently carefully adjusting our pricing, promotional activities and costs and expect future margins to improve." 

 

 

 

 

 

 

Source: Norcraft Companies, L.P.

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