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BMC WEST REPORTS RECORD REVENUES, NET INCOME FOR THIRD QUARTER

 BMC WEST REPORTS RECORD REVENUES, NET INCOME FOR THIRD QUARTER
 BOISE, Idaho, Oct. 13 /PRNewswire/ -- BMC West Corp. (NASDAQ: BMCW) today reported record revenues and net income for the third quarter ended Sept. 28, 1992. The strong quarter helped produce nine-month revenues close to 1991 full year results and significantly higher earnings.
 Revenues for the three months rose 30 percent to $83.2 million from $63.9 million. Net income outpaced revenue growth, increasing 43 percent to $2.3 million from $1.6 million a year ago. On a per-share basis, earnings of 60 cents were the same as in the comparable quarter last year.
 "The company's earnings per share performance was affected by 43 percent more common shares outstanding following our initial public stock offering in August 1991," said Donald S. Hendrickson, BMC West president and chief executive officer. Without the additional shares outstanding, earnings would have been 86 cents per share.
 The third quarter is also traditionally BMC West's strongest, making it even tougher to improve performance, he explained. Hendrickson cited an increase in new home construction in most markets served by BMC West as the driving force behind increased sales.
 "The level of new housing construction is especially high in the Intermountain states of Idaho, Colorado, Utah and eastern Washington where 19 of our 32 building materials centers are located," Hendrickson said. During the quarter, same-store sales throughout BMC West's operations gained 22 percent.
 In addition, revenues were boosted by higher commodity product prices and new geographic locations acquired since the 1991 third quarter. BMC West acquired three building materials centers in northern Nevada in August 1992 with annual revenues of approximately $15 million and a unit in El Paso, Texas, in October 1991.
 "Our growth strategy is to continue acquiring profitable building materials centers that serve the professional contractor and advanced consumer in the western United States," Hendrickson explained.
 For the nine months ended Sept. 28, revenues were $216.3 million, up 33 percent from $163.1 million in the same year-ago period. Same-store sales for the year-to-date period were ahead 25 percent.
 Higher revenue, lower expenses as a percentage of sales, and lower interest costs combined to more than triple net income to $3.4 million from $980,000 for the comparable period in 1991. Year-to-date earnings of 90 cents per share were more than double 43 cents per share earnings last year despite 67 percent more common shares outstanding. If the number of shares were comparable to the 1991 period, earnings would have been $1.51 per share.
 "With nine-month revenues at almost the same level as all of 1991 and earnings already significantly ahead, the year is shaping up as the company's best," Hendrickson noted.
 BMC West 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, Utah, central California, Oregon, western Texas and Nevada. Annual revenues in 1991 were $218.8 million.
 BMC WEST CORP.
 CONSOLIDATED STATEMENTS OF EARNINGS
 (Unaudited; dollars in thousands, except per-share data)
 Three Months Nine Months
 Ended Sept. 28: 1992 1991 1992 1991
 Net sales $83,230 $63,866 $216,263 $163,052
 Cost of sales 65,819 49,938 171,484 127,956
 Gross profit 17,411 13,928 44,779 35,096
 Selling, general and
 administrative expense 13,313 10,690 36,759 30,157
 Other income (expense), net 180 291 171 563
 Income from operations 4,278 3,529 8,191 5,502
 Interest expense 1,324 1,392 3,771 4,163
 Income (before income taxes) 2,954 2,137 4,420 1,339
 Income taxes 696 562 1,055 359
 Net income 2,258 1,575 3,365 980
 Net income (per common and
 common equivalent share) 0.60 0.60 0.90 0.43
 Weighted average number of
 common and common equivalent
 shares 3,755,078 2,630,603 3,721,250 2,224,972
 -0- 10/13/92
 /CONTACT: Ellis C. Goebel, vice president/treasurer, BMC West, 208-387-4381; or Heidi Flannery or Dolores Chenoweth, investor relations counsel, in.ves'com, 503-221-2087, for BMC West/
 (BMCW) CO: BMC West Corp. ST: Idaho IN: REA SU: ERN


SC-TM -- SE005 -- 9100 10/13/92 07:50 EDT
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Date:Oct 13, 1992
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