Exhibit 99.1
BMHC Announces Share Repurchase Program
SAN FRANCISCO, March 13, 2007 – Building Materials Holding Corporation (BMHC) (NYSE: BLG), today announced that its Board of Directors has approved a share repurchase program authorizing the Company to purchase up to $25 million of its common stock. The shares may be purchased from time to time in the open market or through privately negotiated transactions at management’s discretion, depending upon market conditions and other factors, in accordance with Securities and Exchange Commission requirements. The repurchase program has a term of 12 months.
Robert E. Mellor, BMHC's Chairman, President and Chief Executive Officer, stated, “While we will continue to seek and evaluate acquisitions and other capital investment opportunities, the share repurchase program provides us with an additional method to strategically manage our capital. We believe the share repurchase program underscores our continuing efforts to provide the maximum value to our shareholders over the long term.”
About BMHC
BMHC, a Fortune 1000 company, is one of the largest providers of residential construction services and building materials in the United States. We serve the homebuilding industry through two subsidiaries: SelectBuild provides construction services to high-volume production homebuilders in key growth markets across the country; BMC West distributes building materials and manufactures building components for professional builders and contractors in the western and southern states. Recently, BMHC was named to Fortune Magazine's 100 Fastest Growing Companies and for a second consecutive year named to the Forbes 400 Best Big Companies. To learn more about BMHC, visit our website at www.bmhc.com.
BUSINESS RISKS AND FORWARD-LOOKING STATEMENTS
There are a number of business risks and uncertainties that affect our operations and therefore could cause future results to differ from past performance or expected results. Additional information regarding business risks and uncertainties is contained in Item 1A of our most recent Form 10-K. These risks and uncertainties may include, but are not limited to:
| · | demand for single-family homes which is influenced by changes in the overall condition of the U.S. economy, including interest rates, job formation, consumer confidence and other important factors; |
| · | integration of acquired businesses may not result in anticipated cost savings and revenue synergies being fully realized or may take longer to realize than expected; |
| · | our ability to identify and acquire suitable acquisition candidates; |
| · | availability of and our ability to attract, train and retain qualified individuals; |
| · | implementation of cost structures that align with revenue growth; |
| · | changes in the business models of our customers; |
| · | fluctuations in our costs and availability of sourcing channels for commodity wood products, concrete, steel and other building materials; |
| · | weather conditions, including natural catastrophic events; |
| · | construction defect and product liability claims as well as other legal proceedings; |
| · | disruptions in our information systems; |
| · | actual and perceived vulnerabilities as a result of terrorist activities and armed conflict; |
| · | costs and/or restrictions associated with federal, state and other regulations; and |
| · | numerous other matters of a local and regional scale, including those of a political, economic, business, competitive or regulatory nature. |
Risks related to our shares may include, but are not limited to:
| · | share price fluctuations and |
| · | potential share price limitations due to anti-takeover defenses in our governing documents and certain provisions under Delaware law. |
Certain statements made in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical or current facts, including statements about our expectations, anticipated financial results and future business prospects are forward-looking statements. While these statements represent our current judgment on what the future may hold and we believe these judgments are reasonable, these statements involve risks and uncertainties that could cause our actual results to differ materially from those in forward-looking statements. These factors include, but are not limited to the risks and uncertainties cited in the above paragraphs. Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date of this news release. We undertake no obligation to update forward-looking statements.
For More Information
Investor Contacts:
Bill Smartt, Senior Vice President and Chief Financial Officer, BMHC
Mark Kailer, Vice President, Treasurer and Investor Relations Officer, BMHC
+1.415.627.9100
Lisa Laukkanen, The Blueshirt Group for BMHC
+1.415.217.4967
lisa@blueshirtgroup.com
