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Stock impact report

Patrick Industries, Inc. Reports First Quarter 2017 Financial Results

Patrick Industries, Inc. (PATK) 
Last patrick industries, inc. earnings: 4/30 08:00 am Check Earnings Report
Company Research Source: PR Newswire
ELKHART, Ind., April 27, 2017 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK), a major manufacturer and distributor of building and component products for the recreational vehicle ("RV"), manufactured housing ("MH") and industrial markets, today reported its financial results for the first quarter ended March 26, 2017.  First Quarter 2017 Financial ResultsNet sales for the first quarter of 2017 increased $66.8 million or 24%, to $345.4 million from $278.6 million in the same quarter of 2016.  The increase was primarily attributable to a 21% increase in the Company's revenue from the RV industry, which primarily reflected the incremental contribution from acquisitions completed in 2016 and industry growth.  According to industry sources, RV industry wholesale unit shipments increased approximately 12% in the first quarter of 2017 compared to the prior year. Sales to the RV industry represented 76% of the Company's first quarter 2017 sales.  Revenue from the MH industry, which r Show less Read more
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