Building Materials (NASDAQ:BMHC)
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In the news release, BMHC (NASDAQ:BMHC) Announces Second Quarter 2006 Financial Results, issued earlier today by Building Materials Holding Corporation over PR Newswire, in the second financial table (Balance Sheets) the fifth line that reads "deductible reserves" and the corresponding numbers should be disregarded as they were incorrectly transmitted by PR Newswire. The corrected table is as follows:
Building Materials Holding Corporation
Consolidated Balance Sheets
(thousands, except share data)
(unaudited)
June 30 December 31
2006 2005
Assets
Cash and cash equivalents $37,885 $30,078
Marketable securities 1,917 3,645
Receivables, net of allowances
of $5,010 and $3,756 404,691 363,527
Inventory 198,846 168,282
Unbilled receivables 82,695 56,128
Deferred income taxes 6,747 5,768
Prepaid expenses and other 9,731 6,967
Total current assets 742,512 634,395
Property and equipment
Land 49,138 47,328
Buildings and improvements 127,882 118,556
Equipment 183,865 166,633
Construction in progress 18,530 9,485
Accumulated depreciation (131,280) (121,525)
Marketable securities 34,724 28,875
Deferred loan costs 4,674 3,616
Other long-term assets 29,362 20,465
Other intangibles, net 75,162 55,227
Goodwill 244,425 187,470
Total assets $1,378,994 $1,150,525
Liabilities, Minority Interests and
Shareholders' Equity
Accounts payable $176,447 $146,627
Accrued compensation 59,086 65,928
Insurance deductible reserves 33,075 21,872
Other accrued liabilities 89,396 51,579
Billings in excess of costs and estimated earnings 53,721 33,799
Current portion of long-term debt 13,804 10,131
Total current liabilities 425,529 329,936
Deferred income taxes 6,177 6,911
Insurance deductible reserves 22,330 20,753
Long-term debt 339,223 278,169
Other long-term liabilities 39,156 30,689
Total liabilities 832,415 666,458
Minority interests 11,746 14,006
Commitments and contingent liabilities -- --
Shareholders' equity
Common shares, $0.001 par value: authorized
50 million shares; issued and outstanding
28,995,803 and 28,758,580 shares 29 29
Additional paid-in capital 148,398 143,780
Unearned compensation -- (2,698)
Retained earnings 384,914 328,463
Accumulated other comprehensive income, net 1,492 487
Total shareholders' equity 534,833 470,061
Total liabilities, minority interests and
shareholders' equity $1,378,994 $1,150,525
DATASOURCE: Building Materials Holding Corporation