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BMC REPORTS RECORD SECOND QUARTER, 38 PERCENT HIGHER EPS

 BOISE, Idaho, July 19 /PRNewswire/ -- BMC West (NASDAQ: BMCW), a leading regional distributor and retailer of building materials, today reported record earnings of 55 cents per share for the quarter ended June 28, 1993 -- a 38 percent increase from 40 cents per share in the same period a year ago.
 During the second quarter, sales also rose to a record $103.3 million, up 35 percent from $76.4 million in the same 1992 period. Net income of $2.8 million was nearly double the prior year's $1.5 million. The earnings per share increase was achieved on 5.1 million common and common equivalent shares outstanding -- 40 percent higher than a year ago.
 "Increased sales stemmed primarily from strong residential housing construction in our Western market, and excellent performance by our employees," said Donald S. Hendrickson, BMC West president and chief executive officer. Other factors contributing to the sales gain in the quarter include increased market share, higher commodity wood product prices and the effect of recent acquisitions.
 Highlights
 "Sales were up in each of our eight-state market areas, with same-store sales for the second quarter 27.7 percent ahead of last year," Hendrickson said. During the quarter, 81 percent of sales were to professional contractors building single and multi-family residences.
 "The 1993 quarter was also boosted as a result of the third quarter 1992 acquisition of a three-unit building materials firm in northern Nevada, and the 1993 acquisition of a pre-hung door company in Idaho."
 As part of its strategy to increase capacity for value-added products such as pre-hung doors, pre-assembled windows, fabricated roof trusses and trim packages, BMC West acquired a pre-hung door company with facilities in two Idaho cities -- Twin Falls and Boise -- in May, 1993. Annual revenues are approximately $4.0 million. In addition, the company completed the installation of pre-hung door facilities at its existing units in Beaverton, Ore., and Lewiston, Idaho, during the quarter.
 For the six months, sales increased to $177.2 million from $133.0 million, for a 33-percent increase over the same period in 1992. Same store-sales for the six month period were up 26.9 percent. Year-to-date net income was significantly improved at $3.2 million from $1.1 million -- a 200 percent improvement. Earnings per share performance more than doubled to 63 cents from 30 cents on 40 percent more common and common equivalent shares outstanding.
 Outlook
 "We are actively looking at additional acquisitions that will either 'fill in' the states in which we presently have operations or expand our geographic presence in the 11 Western states and Texas," Hendrickson explained.
 BMC West, founded in 1987, distributes building materials products primarily to professional contractors as well as advanced, service-oriented consumers. The company operates 33 building materials centers in Colorado, Washington, Idaho, central California, Utah, Oregon, Nevada and western Texas. Annual revenues in 1992 were $291.0 million.
 BMC WEST CORP.
 Consolidated Statements of Earnings
 (Dollars in thousands, except per share data)
 Three Months Ended Six Months Ended
 June 28 1993 1992 1993 1992
 Net sales $103,256 $ 76,414 $177,159 $133,033
 Cost of sales 81,771 60,877 140,529 105,665
 Gross profit 21,485 15,537 36,630 27,368
 Selling, general and
 administrative
 expense 15,886 12,454 29,499 23,446
 Other income (expense) 292 132 472 (9)
 Income from operations 5,891 3,215 7,603 3,913
 Interest expense 1,203 1,279 2,198 2,447
 Income before income
 taxes 4,688 1,936 5,405 1,466
 Income taxes 1,882 474 2,168 359
 Net income $ 2,806 $ 1,462 $ 3,237 $ 1,107
 Net income per common
 and common equivalent
 share $ 0.55 $ 0.40 $ 0.63 $ 0.30
 Weighted average
 number of common
 and common equivalent
 shares 5,087,691 3,622,640 5,080,344 3,622,640
 -0- 7/19/93
 /CONTACT: Ellis C. Goebel, vice president and treasurer, of BMC West, 208-387-4381/
 (BMCW)


CO: BMC West ST: Idaho IN: REA SU: ERN

LM-SB -- SE004 -- 2853 07/19/93 07:55 EDT
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Date:Jul 19, 1993
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