Dayton Superior Corp. Posts Record Third Quarter

Oct. 31, 2008
Dayton Superior Corp., the leading North American provider of specialized products for the non-residential concrete construction industry and the largest concrete forming and shoring rental company serving the domestic, non-residential construction market, last week reported its highest third quarter net income in nine years as well as record third quarter operating earnings.

Dayton Superior Corp., the leading North American provider of specialized products for the non-residential concrete construction industry and the largest concrete forming and shoring rental company serving the domestic, non-residential construction market, last week reported its highest third quarter net income in nine years as well as record third quarter operating earnings.

Net sales for the company were $136 million, up 4 percent year over year, while gross profit jumped 22 percent to $48 million, reflecting gains in pricing and ongoing cost improvement programs.

Sales of Dayton Superior’s concrete construction-related products increased 4 percent to $117 million, stemming from higher selling prices, partially offset by lower unit volume. Equipment rental revenues increased 4 percent to $15 million, a hike driven by higher rental rates. Revenues from sales of used rental equipment declined slightly.

Rental gross profit was $7 million, or 48 percent of rental revenue, compared with $6 million or 40 percent of rental revenue in the third quarter of 2007.

“The operational and organizational improvements made in this difficult market environment are significant,” said Eric Zimmerman, president and CEO. “All facets of our organization contributed to our third quarter success. Our marketing and sales disciplines, manufacturing productivity, distribution center controls and new product sales were all key to our improved financial performance. In light of the non-residential construction challenges in most regions, and the continued tight credit markets, we are pleased with our results through September.”

Dayton Superior Corp., based in Dayton, Ohio, is No. 30 on the RER 100.