Select Interior Concepts Inc., an Anaheim-based building products and services company, reported third quarter sales increased 35% to $127.6 million from the same period a year earlier.
Net income was $753,000, down from $2.8 million year-over-year, due to investments and the costs of being a publicly traded company.
Shares of the company were up 1.1% to $8.60 with a market cap of $220 million in midday trading. Select Interiors (Nasdaq: SIC) listed on the Nasdaq in August.
Chief Executive Tyrone Johnson said the quarter “marked a continuation of organic growth” and demand in its core markets was firm “despite tightening housing affordability in certain markets.”
In August, the company acquired Tuscany Collection, distributor of natural stone, quartz and tile in Nevada with $6 million in sales, as well as Acquired Summit Stoneworks LLC, designer and installer of countertops and flooring in central Texas with annual sales of $17 million.
