Building materials firm's profit off 35%

Beacon Roofing supplies products throughout the United States and Canada. (AP file photo)

Beacon Roofing Supply Inc., a Peabody company that distributes roofing and other building materials, said its fiscal first-quarter earnings fell 35 percent because of the housing slump.

Net income in the quarter ended Dec. 31 fell to $8.8 million, or 20 cents per share, from $12.9 million, or 31 cents per share, in the year-earlier period, which benefited from sales related to hurricane damage.

Wall Street analysts estimated profit of 27 cents per share, according to Thomson Financial.

Sales grew 12 percent, to $380.2. The total was boosted by acquisitions but missed Wall Street estimates for $386 million.
(AP)