DALLAS -- U.S. Home Systems Inc., a manufacturer and distributor of home improvement products, kitchen cabinet refacing products and home organization products, reported a revenue increase for the second quarter and six months ended June 30.
In the second quarter, U.S. Home Systems reported revenue of $43.8 million, exceeding guidance of $40 to $41 million and up 24.4% compared to $35.2 million in the second quarter last year. Earnings per share also rose to $0.21, significantly better than estimates of $0.11 to $0.13 per share and compared to $0.06 per share in the second quarter of last year.
“We recorded our seventh consecutive year-over-year quarterly increase in revenues in the second quarter and achieved a record $43.8 million,” said Murray Gross, chairman and chief executive officer. "Faster installation cycle time coupled with a significant increase in new orders during the period boosted revenues above guidance. Our new orders increased 17.7%, from $37.4 million in the second quarter last year to a record $44.0 million in the second quarter 2011."
U.S. Home Systems expects revenues of $41 million to $42 million; third quarter 2010 revenues were $39.6 million.
Posted by Michaelle Bradford
Have something to say? Share your thoughts with us in the comments below.