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BMC WEST REPORTS RECORD FIRST QUARTER

 BOISE, Idaho, April 19 /PRNewswire/ -- BMC West (NASDAQ: BMCW), a leading regional distributor and retailer of building materials in the western United States, today reported record results for the first quarter ended March 28, 1993.
 Sales increased 31 percent to $73.9 million, compared to $56.6 million in the 1992 first quarter. First-quarter net income reached $431,000, or 8 cents per fully diluted share, compared to a loss of $355,000, or 10 cents per share, in 1992's first quarter. 1992's earnings per share figure includes a one-time charge of 6 cents per share and 1993's per-share figure is based on 46-percent more common and common equivalent shares outstanding.
 Donald S. Hendrickson, president and chief executive officer, commented, "This period's outstanding results marked the first time in the company's six-year history that the first quarter has been profitable. This quarter, a traditionally slow quarter due to the seasonality of housing construction, was exceptional for a variety of reasons. Excellent performance by our dedicated employees, stronger residential housing construction activity, increased market share, higher commodity wood product prices, and the late 1992 acquisition of three Nevada building materials centers contributed to the improvement."
 Highlights
 BMC West's same-store sales for the quarter were up 25.8 percent, with improvement particularly strong in the California market, which experienced a 60.2-percent increase over 1992's first quarter.
 Operating income improved to $1.7 million, representing a more than two-fold increase over 1992's first-quarter operating income of $698,000, which included a one-time charge of $285,000 for relocation of a Santa Rosa, Calif., door shop and the closure of a Vancouver, Wash., export warehouse.
 Outlook
 Commenting on the near-term outlook, Hendrickson stated, "Overall, we're encouraged about the level of housing construction in our eight-state market area and are anticipating that sales will continue strong in the second quarter."
 To meet the increased demand for value-added products such as pre- hung doors, pre-assembled windows and fabricated roof trusses, BMC West plans to add pre-hung door facilities at its Fresno, Calif.; Beaverton, Ore.; and Lewiston, Idaho, locations during 1993.
 BMC West, founded in 1987, distributes building materials products primarily to professional contractors as well as advanced, service- oriented consumers. The company operates 32 building materials centers in Washington, Colorado, Idaho, central California, Utah, Oregon, western Texas and Nevada. Annual revenues in 1992 were $291 million.
 BMC WEST CORP.
 CONSOLIDATED STATEMENTS OF EARNINGS
 (Unaudited, dollars in thousands except per-share data)
 Three Months Ended March 28: 1993 1992
 Net sales $ 73,903 $ 56,619
 Cost of sales 58,758 44,788
 Gross profit 15,145 11,831
 Selling, general and
 administrative expense 13,613 10,992
 Other income (expense) 180 (141)
 Income from operations 1,712 698
 Interest expense 995 1,168
 Income (loss) before income taxes 717 (470)
 Income taxes 286 (115)
 Net income (loss) $ 431 $ (355)
 Net income (loss) per common and
 common equivalent share $ 0.08 $ (0.10)
 Weighted average number of common
 and common equivalent shares 5,094,305 3,491,779
 -0- 4/19/93
 /CONTACT: Ellis C. Goebel, vice president & treasurer, of BMC West, 208-387-4381/
 (BMCW)


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

LM-SG -- SE003 -- 7136 04/19/93 07:51 EDT
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Publication:PR Newswire
Date:Apr 19, 1993
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