Hardwoods Distribution Inc. (“HDI”) announced financial results for the three months ended June 30, 2018. For the three months ended June 30, 2018, total sales increased 7.4% to $298.2 million, from $277.5 million during the same period in 2017, as the company says in the press release received by Lesprom Network.
Gross profit for the three months ended June 30, 2018 increased 2.8% to $53 million, from $51.5 million during the same period in 2017. This $1.5 million improvement reflects higher sales, partially offset by a lower gross profit margin.
For the three months ended June 30, 2018, HDI reported Adjusted EBITDA of $16.8 million, as compared to $17.2 million during the same period in 2017.
Profit for the three months ended June 30, 2018 increased 2% to $10 million, from $9.8 million during the same period in 2017. Adjusted profit for the three months ended June 30, 2018 increased 8.8% to $10.6 million, from $9.8 million during the same period in 2017.
HDI is North America’s largest wholesale distributor of architectural grade building products to the residential and commercial construction markets, with a comprehensive US and Canadian distribution network.
