Burnham Holdings, Inc. Reports First Quarter Results
BURNHAM HLDGS INC A (BURCA)
NASDAQ:AMEX Investor Relations:
burnhamholdings.com
Company Research
Source: PR Newswire
LANCASTER, Pa., April 27, 2020 /PRNewswire/ -- Burnham Holdings, Inc. (OTC-Pink: BURCA), the parent company of multiple subsidiaries that are leading domestic manufacturers of boilers, and related HVAC products and accessories (including furnaces, radiators, and air conditioning systems) for residential, commercial and industrial applications, today reported its financial results for the quarter ended March 29, 2020.Burnham Holdings, Inc.'s financial performance in the first quarter of 2020 included the following:Net sales were $37.0 million, down $8.5 million, or 18.6%, versus 2019, as demand for residential equipment was negatively impacted by mild winter temperatures during the 2019-2020 heating season and late first quarter impacts of the COVID-19 pandemic. The decline in sales compared to last year is magnified due to 2019 first quarter sales being at their highest level in ten years. Gross profit as a percentage of sales was 17.6% versus 20.7% in 2019. First quarter 2020 net l
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