Universal Forest Products falls 8% in pre-market on lower Q2 earnings
Lumber distributor Universal Forest Products Inc. (Nasdaq:UFPI) is down 8% in pre-market trading today after the company posted lower second quarter profits after the close on Wednesday. Net earnings for the second quarter of 2008 were $11.7 million, or $0.61 per share, compared with $16.8 million, or $0.86 per share, in the same quarter a year ago. The Grand Rapids, Mich.-based company said its weaker-than-expected profits were due to the weak economy and a drop in the cost of lumber.
In today’s pre-market trading, Universal Forest Products shares are down $2.02 at $23.76. Shares have ranged from $23.35 to $43.40 during the past year.
For detailed price information and recent news stories about Universal Forest Products Inc., click UFPI.
