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BMC WEST REPORTS RECORD SALES & EARNINGS FOR THIRD QUARTER

 BOISE, Idaho, Oct. 19 /PRNewswire/ -- BMC West Corp. (NASDAQ: BMCW) a leading regional distributor and retailer of building materials, today reported its eighth consecutive quarter of sales and earnings growth. Strong results for the quarter ended Sept. 28, 1993, pushed the nine month sales close to 1992's full year record level and with significantly higher earnings than for all of 1992.
 Sales for the third quarter rose 32 percent to $110.2 million from $83.2 million in the same period a year ago. Net income improved to $3.3 million, up 48 percent from $2.3 million in the same quarter a year ago. Earnings before tax for 1993 was $5.6 million up 88 percent from the prior years $3.0 million. Earnings per share was 65 cents compared to 60 cents on 36 percent more common and common equivalent shares outstanding.
 Donald S. Hendrickson, BMC West's president and chief executive officer said, "The sales records were due in part from a strong housing demand in most of our market areas, excellent performance of our employees, the acquisition of Carson Building Supply in the latter part of 1992, Sawtooth Door in Idaho and five units in Texas in 1993."
 "Our overall same-store sales were up more than 25 percent," Hendrickson said. "We experienced particularly high quarter-over- quarter sales growth in our California, Utah, Colorado and Idaho units."
 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 completed construction of a pre-hung door shop at its Fresno, Calif., location during the quarter. The company has also started construction of a state-of-the art truss plant at its Tacoma, Wash., facility.
 For the nine months, BMC West's sales were ahead of the prior years same period by 33 percent rising to $287.4 million from $216.3 million. Same-store sales growth during this period was up an excellent 26 percent. Net income doubled to $6.6 million, while earnings per share was up to $1.29 from 90 cents a 43-percent increase. The company's earnings per share performance was calculated on 37 percent more common and common equivalent shares outstanding.
 Hendrickson said that due to recent acquisitions the company expects higher sales in this year's fourth quarter as compared to a year ago. Since mid-September, BMC West has acquired five building materials centers in Texas and signed a definitive purchase and sale agreement for the Poulsen's Inc. location in Montana, expected to close in early November.
 BMC West currently operates 38 building materials centers in eight Western states -- Colorado, Idaho, Washington, Utah, central California, Nevada, Texas, and Oregon. Annual revenues in 1992 were $291.0 million.
 BMC WEST CORP.
 CONSOLIDATED STATEMENTS OF INCOME
 (Dollars in thousands, except per share data)
 Three months ended Nine months ended
 Sept. 28, 1993 1992 1993 1992
 Net sales $110,213 $83,230 $287,372 $216,263
 Cost of sales 86,970 65,819 227,499 171,484
 Gross profit 23,243 17,411 59,873 44,779
 Selling, general and
 administrative expenses 16,962 13,313 46,461 36,759
 Other income 347 180 819 171
 Income from operations 6,628 4,278 14,231 8,191
 Interest expense 1,075 1,324 3,273 3,771
 Income before income taxes 5,553 2,954 10,958 4,420
 Income taxes 2,223 696 4,391 1,055
 Net income $ 3,330 $ 2,258 $ 6,567 $ 3,365
 Net income per common and
 common equivalent share $ 0.65 $ 0.60 $ 1.29 $ 0.90
 Weighted average number of
 common and common
 equivalent shares 5,096,772 3,755,078 5,079,404 3,721,250
 -0- 10/19/93
 /CONTACT: Ellis C. Goebel, vice president & treasurer, of BMC West Corp., 208-387-4381/
 (BMCW)


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

JH -- SE007 -- 3719 10/19/93 07:53 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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