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September 01, 2015 9:13 PM ET

Building Products

Company Overview of Norcraft Companies, Inc.

Company Overview

Norcraft Companies, Inc. manufactures kitchen and bathroom cabinetry in the United States and Canada. Its products include stock and semi-custom cabinets in framed and full access styles, as well as door and finish combinations. The company markets its products primarily under the Mid Continent Cabinetry, Norcraft Cabinetry, Brookwood Cabinetry, Fieldstone Cabinetry, StarMark Cabinetry, UltraCraft, and Urban Effects brands. Norcraft Companies markets its products through kitchen and bathroom cabinet dealers, wholesale retailers, and home builders to end users in the repair and remodeling and new home construction markets, contractors, builders, and home centers. It also operates four kitchen...

3020 Denmark Avenue

Suite 100

Eagan, MN 55121

United States

Founded in 1966

2,234 Employees

Phone:

800-297-0661

Key Executives for Norcraft Companies, Inc.

Chief Financial Officer and Secretary
Age: 49
President of Mid Continent
Age: 54
President of StarMark
Age: 64
President of UltraCraft
Age: 62
Vice President, Assistant Secretary and Director
Age: 61
Compensation as of Fiscal Year 2015.

Norcraft Companies, Inc. Key Developments

Norcraft Companies, Inc. Announces Executive Changes

Norcraft Companies, Inc. entered into an Agreement and Plan of Merger with Fortune Brands Home & Security, Inc. and Tahiti Acquisition Corp. In accordance with the terms of the Merger Agreement and in connection with the consummation of the transactions contemplated thereby, each of Mark Buller, Michael Maselli, Christopher Reilly, Harvey Wagner, Ira Zecher and Edward Kennedy submitted his resignation and ceased serving as a director of the Board of Directors of the Company. Christopher Klein, David Randich and Robert Biggart were elected to serve as directors on the Board as of the Effective Time.

Norcraft Companies, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Norcraft Companies, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net sales of $93,957,000 compared to $80,493,000 a year ago. Income from operations was $7,411,000 compared to $4,575,000 a year ago. The increase was primarily due to leverage of fixed manufacturing costs and lower raw material costs which more than offset some labor inefficiencies. Income before income taxes was $4,973,000 compared to loss before income taxes of $14,517,000 a year ago. Net income attributable to the company was $4,516,000 or $0.26 per basic and diluted share compared to net loss attributable to the company of $13,598,000 a year ago. Non-GAAP adjusted EBITDA was $11,185,000 compared to $8,853,000 a year ago. Sales increased in all of the company’s divisions, with approximately two-thirds of the increase being driven by volume and the remaining increase driven by mix/price gains during the quarter. Adjusted net income attributable to the company was $2,712,000 or $0.16 per share compared to adjusted net loss attributable to the company of $495,000 a year ago. For the year, the company reported net sales of $376,012,000 compared to $339,695,000 a year ago. Income from operations was $37,332,000 compared to $26,562,000 a year ago. Loss before income taxes was $10,002,000 compared to $14,294,000 a year ago. Net income attributable to the company was $3,223,000 or $0.19 per basic and diluted share compared to net loss attributable to the company of $13,375,000 a year ago. Net cash provided by operating activities was $35,882,000 compared to $17,847,000 a year ago. Purchase of property, plant and equipment was $4,830,000 compared to $3,963,000 a year ago. Non-GAAP adjusted EBITDA was $52,272,000 compared to $42,464,000 a year ago. Adjusted net income attributable to the company was $15,049,000 or $0.87 per share compared to $1,533,000 a year ago.

Norcraft Companies, Inc. to Report Q4, 2014 Results on Mar 30, 2015

Norcraft Companies, Inc. announced that they will report Q4, 2014 results Pre-Market on Mar 30, 2015

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