Headwaters Inc Loss Widens To $20.7 Million (HW)

South Jordan, Utah-based Headwaters Incorporated

released its financial results on Tuesday morning. Headwaters Incorporated reported that its 1st quarter net loss widened to $20.7 million, or 34 cents per share, compared to a net loss of $13.9 million, or 23 cents per share, a year earlier. Headwaters Incorporated reported revenue of $154.7 million, up 11% from $139.65 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for a loss of 28 cents per share, on revenue of $146.66 million. Chairman and Chief Executive Officer Kirk A. Benson said, “Headwaters had a solid first quarter and 2011 is off to a good start. Relative to last year's first quarter, both our Heavy Construction Materials and Energy segments showed material increases in revenue and operating margins." Headwaters Incorporated (

) closed the previous trading day at $5.26 per share. Analysts covering the company's stock give it a consensus price target of $5.67 per share. Headwaters Incorporated is a diversified growth company providing products, technologies and services to the heavy construction materials, light building products, and energy technology industries. Read more