BUFFALO, NY -- (Buffalo Business First) Gibraltar Industries Inc. reported wider losses in the fourth quarter as the building and construction business continued to slump.
The Buffalo-based manufacturer took a net loss of $29.4 million, or 97 cents per share, in the period. A year ago, Gibraltar lost $22 million, or 73 cents per share.
Fourth-quarter sales decreased 25 percent to $187.16 million from $249.37 million year-over-year.
For the quarter, the loss from continuing operations was $28.7 million, or 95 cents per share, nearly triple the loss of $10 million, or 33 cents per share, in the comparable 2008 period.
For all of 2009, Gibraltar (NASDAQ: ROCK) reported a loss of $52 million, or $1.73 per share. Net income in 2008 was $24 million, or 80 cents per share.
Full-year sales dropped 32.2 percent to $834.2 million from $1.23 million in 2008.