Elkhart-based Patrick Industries has net loss for 3Q 2008

Greater Fort Wayne Business Weekly

Elkhart-based Patrick Industries, a manufacturer and distributor of building and component products for the recreational-vehicle, manufactured-housing and industrial markets, today reported a third-quarter 2008 net loss of $2.3 million, or 26 cents per share.

That compares with net income of $200,000, or 3 cents per share, for third-quarter 2007.

In a statement, Patrick said its third- quarter results include pretax restructuring and other expenses of about $800,000, or 6 cents per share. Expenses primarily reflect the acquisition and integration of Adorn and its related financing activities, the company said.

Patrick had net sales of $88.4 million in the third quarter compared with $136.6 million in the year-ago period. The company said net sales were affected by several factors, such as increased credit costs, soft market conditions and declines in consumer confidence and discretionary spending.