Item 8.01 Other Events
Changes to the Registrant’s customer market classifications have been made to improve our reporting by better aligning our customer market designations with available industry reporting and end market research.
While we still work in the same industries and markets --DIY/Retail, Industrial, Site-built and Manufactured Housing – we have further defined these markets and reclassified our customers into more specific categories.
· Retail building materials. This includes Do-It-Yourself retailers, but also customers like distributors and pro dealers.
· Industrial. While this still includes packaging, crating and other products for manufacturers, it no longer includes concrete forming, which we’ve moved to our commercial construction category.
· Commercial construction and concrete forming. This includes non-residential construction, as well as concrete forming materials.
· Residential construction. This includes builders of single and multi-family homes.
· Manufactured housing and recreational vehicles.
This change will be noted in press releases, SEC filings and other reporting beginning with the second quarter of 2011, and prior year sales will be reclassified into the new market designations. A summary of historical quarterly sales in 2010 and the first quarter of 2011 based on our new market classifications are as follows:
Market | Q1 2010 | Q2 2010 | Q3 2010 | Q4 2010 | Total 2010 | Q1 2011 |
Retail Building Materials | $187,026 | $353,059 | $222,842 | $153,540 | $916,467 | $175,281 |
Industrial | 95,591 | 129,073 | 120,613 | 105,130 | 450,407 | 109,645 |
Commercial Construction and Concrete Forming | 14,389 | 16,914 | 19,003 | 17,878 | 68,184 | 14,429 |
Residential Construction | 53,704 | 67,035 | 62,857 | 57,718 | 241,314 | 47,831 |
Manufactured Housing and Recreational Vehicles | 48,936 | 82,831 | 64,175 | 49,828 | 245,770 | 47,035 |
Total Gross Sales | 399,646 | 648,912 | 489,490 | 384,094 | 1,922,142 | 394,221 |
Sales Allowances | (6,688) | (10,277) | (8,916) | (5,409) | (31,291) | (6,988) |
Total Net Sales | $392,958 | $638,635 | $480,574 | $378,685 | $1,890,851 | $387,233 |