---------------AT THE COMPANY---------------
Director, Corporate Communications
FOR IMMEDIATE RELEASE
WEDNESDAY, February 17, 2016
UFPI posts record fourth-quarter and annual results
Q4 earnings: $18.9 million, or $.93 per diluted share, up 103% on strong unit sales growth
GRAND RAPIDS, Mich., Wed., Feb. 17, 2016 - Universal Forest Products, Inc. (Nasdaq: UFPI) today announced record results in 2015, including record fourth-quarter net earnings attributable to controlling interest of $18.9 million, or $.93 per diluted share-more than double the net earnings of $9.3 million, or $0.46 per share, for the fourth quarter of 2014. The Company also posted record annual net earnings attributable to controlling interest of $80.6 million, or $3.99 per diluted share, representing a 40 percent increase over 2014 annual net earnings attributable to controlling interest of $57.6 million, or $2.86 per diluted share. Fourth-quarter 2015 net sales of $653.6 million were up 5.4 percent over net sales for the same period of 2014. Annual net sales of $2.9 billion surpassed 2014 annual net sales by 8.5 percent, representing a new record for the Company.
“I am exceedingly proud of the people of the companies of Universal, who created record results through their hard work, innovation and determination. This exceptional performance is a testament to the strength of our people and their execution of our growth strategies,” said CEO Matthew J. Missad.
“It would be natural to expect our team to bask in their accomplishments, but they are doing exactly the opposite-they are energized and more motivated to break records again in 2016,” Missad added. “It is a privilege to work with such an extraordinary group, which I think is the best in the industry. We intend to capitalize on our successes and use them as a springboard to even better performance next year.”
The following information was filed by Universal Forest Products Inc (UFPI) on Wednesday, February 17, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.